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2021-03-22

Great

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>

2021-03-18

To the moon

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2021-05-15

Covid

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2021-04-09

Like and comment thank you

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2021-03-17

H7pl

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2021-03-19

Match

Six ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote>

2021-03-17

Moon

Easy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境：重要会议的投资者指南</blockquote>

2021-03-24

Nice

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2021-03-12

That's great

The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>

2021-03-12

Noted

US Daylight Saving Time<blockquote>美国夏令时</blockquote>

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and comment thank you&nbsp;","listText":"Like and comment thank you&nbsp;","text":"Like and comment thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/348586950","repostId":"1188479830","repostType":4,"isVote":1,"tweetType":1,"viewCount":3530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351191047,"gmtCreate":1616572181889,"gmtModify":1634525142749,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351191047","repostId":"2121931453","repostType":2,"isVote":1,"tweetType":1,"viewCount":3149,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359388434,"gmtCreate":1616344022428,"gmtModify":1634526284522,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"AMC to be Mon","listText":"AMC to be Mon","text":"AMC to be Mon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359388434","repostId":"1177407243","repostType":4,"repost":{"id":"1177407243","kind":"news","pubTimestamp":1616152583,"share":"https://www.laohunote.com/m/news/1177407243?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:16","market":"us","language":"en","title":"Forget AMC Entertainment: These Stocks Will Make You Rich<blockquote>忘记AMC院线：这些股票会让你致富</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177407243","media":"Motley Fool","summary":"These innovative companies should run circles around Reddit darling AMC.\n\nOver the past two months, ","content":"<p>  These innovative companies should run circles around Reddit darling AMC.  Over the past two months, Wall Street has watched a new phenomenon take shape:the Reddit frenzy.</p><p><blockquote>这些创新公司应该围绕 Reddit 宠儿 AMC 兜圈子。过去两个月，华尔街见证了一种新现象的形成：Reddit 狂热。</blockquote></p><p> Retail investors on Reddit's WallStreetBets (WSB) chat room have essentially banded together to buy shares andout-of-the-money call optionson stocks with high levels of short interest. The goal of the WSB community is to create a short squeeze that sends heavily shorted stocks rocketing higher. Since the vast majority of short-sellers are institutional investors and hedge funds, these retail investors view their actions as a way of getting back at the so-called \"big money.\"</p><p><blockquote>Reddit 的 WallStreetBets (WSB) 聊天室上的散户投资者基本上已经联合起来购买股票和价外看涨期权期权，以及空头兴趣较高的股票。WSB社区的目标是创造一个空头挤压，使严重做空的股票飙升。由于绝大多数卖空者是机构投资者和对冲基金，这些散户投资者将他们的行为视为回报所谓的“大钱”的一种方式。</blockquote></p><p> AMC is an extremely popular (and incredibly dangerous) investment</p><p><blockquote>AMC 是一项极其受欢迎（且极其危险）的投资</blockquote></p><p> Although<b>GameStop</b>is the unquestioned king of all Reddit stocks, movie theater chain<b>AMC Entertainment Holdings</b>(NYSE:AMC)easily slots in as the second-most-popular. AMC was one of the market's most short-sold stocks in late January, and its penny-stock share price acted as an insatiable lure for young investors.</p><p><blockquote>虽然<b>游戏驿站</b>无可争议的所有 Reddit 股票之王，电影院连锁店<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）轻松成为第二受欢迎的股票。AMC 是 1 月下旬市场上卖空最多的股票之一，其细价股股价对年轻投资者具有永不满足的诱惑。</blockquote></p><p> Beyond the Reddit frenzy, optimists are also encouraged by the reopening of the U.S. economy. Movie theaters in New York City and Los Angeles are beginning to reopen, and 21% of the U.S. population has received at least one dose of a coronavirus vaccine. A return to normal appears to be in sight, and investors are betting big on AMC to take advantage of this pent-up demand.</p><p><blockquote>除了 Reddit 的狂热之外，美国经济的重新开放也让乐观主义者感到鼓舞。纽约市和洛杉矶的电影院开始重新开放，21%的美国人口已经接种了至少一剂冠状病毒疫苗。恢复正常似乎指日可待，投资者押注 AMC 以利用这种被压抑的需求。</blockquote></p><p> Unfortunately, the \"buy AMC\" thesisis flawed. The reopening catalyst assumes that there'll be no setbacks in major markets, which is unlikely. It's not yet clear if enough Americans will get the vaccine, which suggests that herd immunity could be pushed further down the road. Coronavirus variants also threaten to diminish the effectiveness of vaccines authorized for emergency use.</p><p><blockquote>不幸的是，“购买AMC”的论点存在缺陷。重新开放的催化剂假设主要市场不会出现挫折，这是不太可能的。目前还不清楚是否有足够多的美国人接种疫苗，这表明群体免疫可能会进一步推广。冠状病毒变种也有可能降低授权用于紧急使用的疫苗的有效性。</blockquote></p><p> Even more concerning, AMCnarrowly avoided filing for bankruptcy protectionearlier this year. It was forced to sell close to 165 million shares of stock and issued more than $400 million in debt capital to step back from the bankruptcy ledge. If capacity limits don't ease somewhat quickly in key markets, I'm not certain AMC will have enough capital to survive the year -- especially if there are pandemic setbacks.</p><p><blockquote>更令人担忧的是，AMCN 今年早些时候勉强避免申请破产保护。它被迫出售近1.65亿股股票，并发行超过4亿美元的债务资本，以摆脱破产边缘。如果主要市场的产能限制不能很快放松，我不确定 AMC 是否有足够的资本度过今年——特别是如果出现大流行挫折的话。</blockquote></p><p> But worst of all, AMC's core operating model is now threatened. With consumers stuck in their homes for roughly a year, select streaming services have become competitors.<b>AT&amp;T</b>&nbsp;subsidiary WarnerMedia isreleasing all of its movies in 2021 on HBO Maxthe same day they'll hit theaters.<b>Walt Disney</b>&nbsp;plans to do something similar with a couple of movies on its Disney+ streaming platform.</p><p><blockquote>但最糟糕的是，AMC的核心运营模式现在受到了威胁。随着消费者被困在家里大约一年，精选的流媒体服务已经成为竞争对手。<b>AT&amp;T</b>子公司华纳媒体将于 2021 年在 HBO Max 上发布其所有电影，同一天上映。<b>华特·迪士尼</b>计划在其Disney+流媒体平台上的几部电影上做类似的事情。</blockquote></p><p> <b>Forget AMC: These innovative stocks can make you rich</b></p><p><blockquote><b>忘记AMC：这些创新股票可以让你致富</b></blockquote></p><p> The point being that AMC is a dangerous investment that's liable to lose folks a lot of money. Instead of buying a company that's hanging on by a thread, I'd encourage you to consider purchasing the following three game-changing stocks, all of which have the tools to make you rich.</p><p><blockquote>关键是AMC是一项危险的投资，很可能会让人们损失很多钱。我鼓励您考虑购买以下三只改变游戏规则的股票，而不是购买一家悬而未决的公司，它们都拥有让您致富的工具。</blockquote></p><p> <b>Ping Identity</b></p><p><blockquote><b>Ping标识</b></blockquote></p><p> Though there are a number of trends that offer double-digit growth potential this decade,cybersecurity might be the safest of the bunch. As more businesses push online and move their data (and that of their customers) onto the cloud, the onus of protecting this data is increasingly going to fall on third-party providers. That's where<b>Ping Identity Holding</b>(NYSE:PING)comes in.</p><p><blockquote>尽管有许多趋势提供了两位数的增长潜力，但网络安全可能是其中最安全的。随着越来越多的企业将数据（及其客户的数据）转移到云上，保护这些数据的责任将越来越多地落在第三方提供商身上。就在那里<b>平身份控股</b>（纽约证券交易所代码：PING）进来了。</blockquote></p><p> Whereas most security companies excelled during the pandemic, identity verification specialist Ping Identitystruggled a bit. Full-year sales were essentially flat, with a number of clients opting for one-year subscriptions instead of multiyear plans. But there's plenty of reason to believe that this weakness was pandemic-related and only temporary.</p><p><blockquote>尽管大多数安全公司在疫情期间表现出色，但身份验证专家Ping identity却有点挣扎。全年销售额基本持平，许多客户选择一年期订阅而不是多年期计划。但有足够的理由相信，这种弱点与疫情有关，而且只是暂时的。</blockquote></p><p> Even though total sales were flat, the company's focus on subscription services helped boost annual recurring revenue (ARR) by 15% to $259.1 million. Ping also ended the year with 51 customers generating in excess of $1 million in ARR, which is up from 38 clients at the end of 2019. The company is clearly capable of scaling up its services with larger clients, and touts that its services are protecting 60% of Fortune 100 companies.</p><p><blockquote>尽管总销售额持平，但该公司对订阅服务的关注帮助将年度经常性收入 (ARR) 提高了 15%，达到 2.591 亿美元。Ping 年底还有 51 家客户的 ARR 超过 100 万美元，高于 2019 年底的 38 家客户。该公司显然有能力扩大其服务范围，并吹嘘其服务保护了 60% 的财富 100 强公司。</blockquote></p><p> What's more, 92% of its fourth-quarter sales were derived from subscriptions, and its subscription gross margin stood at 86% in that quarter of 2020. Even if its ARR growth were to motor along at, say, 15% for the next half-decade, it'd be pretty hard to overlook the cash flow potential when the company's subscriptions are generating 86% gross margin.</p><p><blockquote>更重要的是，其第四季度销售额的92%来自订阅，2020年该季度的订阅毛利率为86%。即使其 ARR 增长率在未来五年内保持 15% 的速度，当该公司的订阅产生 86% 的毛利率时，也很难忽视现金流潜力。</blockquote></p><p> Ping Identity is alsovery reasonably priced. Whereas most cybersecurity stocks are valued at 20 times sales or higher, Ping can be scooped up for around 7 times forecast sales in 2021. It just might be the best value among cybersecurity stocks.</p><p><blockquote>Ping Identity的价格也非常合理。虽然大多数网络安全股票的估值是销售额的 20 倍或更高，但 Ping 在 2021 年的估值可能是预测销售额的 7 倍左右。它可能是网络安全股票中最有价值的。</blockquote></p><p> <b>Cresco Labs</b></p><p><blockquote><b>克雷斯科实验室</b></blockquote></p><p></p><p> Marijuana stocksshould be big-time winners throughout the decade, regardless of what happens with cannabis' classification in Washington. Operating in the most lucrative market in the world, the U.S., multistate operator (MSO)<b>Cresco Labs</b>(OTC:CRLBF)has the potential to make investors rich.</p><p><blockquote>无论华盛顿对大麻的分类会发生什么变化，大麻股票都应该是未来十年的大赢家。多州运营商（MSO）在世界上最有利可图的市场美国运营<b>克雷斯科实验室</b>（场外交易代码：CRLBF）有潜力让投资者致富。</blockquote></p><p> As with most MSOs, Cresco's success will depend somewhat on its retail presence. The company entered the year with only 20 open dispensaries, but has been leaning on acquisitions to expand. Closing the Verdant Creations deal maximized its presence in Ohio, while the pending<b>Bluma Wellness</b>buyout will give the company a healthy presence in medical-marijuana-legal Florida.</p><p><blockquote>与大多数 MSO 一样，Cresco 的成功在一定程度上取决于其零售业务。该公司今年只有 20 家开放式药房，但一直依靠收购来扩张。完成 Verdant Creations 交易最大限度地扩大了其在俄亥俄州的业务，而悬而未决的交易<b>布鲁玛健康</b>收购将使该公司在医用大麻合法的佛罗里达州有一个健康的存在。</blockquote></p><p> Yet what's interesting about Cresco Labs is that its retail game planmostly revolves around limited-license states. In particular, over 60% of its open locations are in states where the number of retail licenses is capped by regulators. Pushing into states with caps on dispensary licenses is a smart way for Cresco to build up its brand while facing minimal competition.</p><p><blockquote>然而，Cresco Labs 的有趣之处在于，它的零售游戏计划主要围绕有限许可州。特别是，其超过 60% 的营业地点位于监管机构对零售许可证数量设定上限的州。对于 Cresco 来说，在面临最小竞争的情况下，进入对药房许可证有上限的州是建立品牌的明智方式。</blockquote></p><p> However, thebigger growth driver for the companyis likely to be its wholesale operations. Even though wholesale cannabis offers lower margins than retail, Cresco has more than enough volume to overlook any margin differences. That's because it holds one of the highly coveted cannabis distribution licenses in California, which allows the company to place proprietary and third-party products into more than 575 dispensaries throughout the Golden State.</p><p><blockquote>然而，该公司更大的增长动力可能是其批发业务。尽管批发大麻的利润率低于零售，但 Cresco 的销量足以忽略任何利润率差异。这是因为它拥有加利福尼亚州令人垂涎的大麻分销许可证之一，这使得该公司能够将专有和第三方产品投放到整个金州超过 575 家药房。</blockquote></p><p> With Cresco's projected growth surpassing many of its peers, it has a good chance to put some serious green into the pockets of its shareholders.</p><p><blockquote>由于 Cresco 的预计增长超过了许多同行，它有很好的机会为股东带来一些可观的绿色收益。</blockquote></p><p> <b>Intuitive Surgical</b></p><p><blockquote><b>直观手术</b></blockquote></p><p> Lastly, investors should forget all about AMC Entertainment andbuy into a real game-changerin the healthcare sector,<b>Intuitive Surgical</b>(NASDAQ:ISRG).</p><p><blockquote>最后，投资者应该忘记AMC院线，买入医疗保健行业真正的游戏规则改变者，<b>直观手术</b>（纳斯达克股票代码：ISRG）</blockquote></p><p> Intuitive Surgical is best known for its robotic-assisted surgical system, the da Vinci, which allows surgeons to make precise incisions that can reduce scarring and shorten hospital stays. For insurers, it can lead to higher up-front costs, but reduce extended hospital stays that can prove even costlier.</p><p><blockquote>Intuitive Surgical 以其机器人辅助手术系统 da Vinci 而闻名，该系统允许外科医生进行精确切口，从而减少疤痕并缩短住院时间。对于保险公司来说，这可能会导致更高的前期成本，但会减少延长住院时间，而延长住院时间的成本可能会更高。</blockquote></p><p> The da Vinci system is the unquestioned leader in robotic-assisted surgery. Intuitive has placed close to 6,000 of its machines worldwide since 2000, which is more than all of the company's competitors combined. The company has been able to build priceless rapport with surgeons in hospitals and surgical centers, which makes ithighly unlikelythat we'll see its clients switch to a competing system.</p><p><blockquote>达芬奇系统是机器人辅助手术领域无可争议的领导者。自 2000 年以来，Intuitive 已在全球放置了近 6,000 台机器，超过了该公司所有竞争对手的总和。该公司已经能够与医院和手术中心的外科医生建立无价的融洽关系，这使得我们不太可能看到其客户转向竞争系统。</blockquote></p><p> But it's not just the company's overwhelming competitive edge that makes it such an attractive stock. Its operating model isdesigned to grow more efficient over time. As more da Vinci systems are installed, a higher percentage of sales will be derived from segments with juicier margins, such as instruments and accessories sold with each procedure, as well as system servicing.</p><p><blockquote>但使其成为如此有吸引力的股票的不仅仅是该公司压倒性的竞争优势。其运营模式旨在随着时间的推移变得更加高效。随着更多达芬奇系统的安装，更高比例的销售额将来自利润率更高的细分市场，例如与每个程序一起销售的仪器和配件，以及系统服务。</blockquote></p><p> Intuitive Surgical is just beginning to realize its opportunity with its innovative soft-tissue surgical solutions. Expect the da Vinci to pick up significant market share in thoracic, colorectal, and general soft-tissue procedures throughout the decade.</p><p><blockquote>Intuitive Surgical凭借其创新的软组织手术解决方案刚刚开始意识到其机遇。预计达芬奇将在整个十年中在胸部、结肠直肠和一般软组织手术领域占据重要的市场份额。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forget AMC Entertainment: These Stocks Will Make You Rich<blockquote>忘记AMC院线：这些股票会让你致富</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForget AMC Entertainment: These Stocks Will Make You Rich<blockquote>忘记AMC院线：这些股票会让你致富</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  These innovative companies should run circles around Reddit darling AMC.  Over the past two months, Wall Street has watched a new phenomenon take shape:the Reddit frenzy.</p><p><blockquote>这些创新公司应该围绕 Reddit 宠儿 AMC 兜圈子。过去两个月，华尔街见证了一种新现象的形成：Reddit 狂热。</blockquote></p><p> Retail investors on Reddit's WallStreetBets (WSB) chat room have essentially banded together to buy shares andout-of-the-money call optionson stocks with high levels of short interest. The goal of the WSB community is to create a short squeeze that sends heavily shorted stocks rocketing higher. Since the vast majority of short-sellers are institutional investors and hedge funds, these retail investors view their actions as a way of getting back at the so-called \"big money.\"</p><p><blockquote>Reddit 的 WallStreetBets (WSB) 聊天室上的散户投资者基本上已经联合起来购买股票和价外看涨期权期权，以及空头兴趣较高的股票。WSB社区的目标是创造一个空头挤压，使严重做空的股票飙升。由于绝大多数卖空者是机构投资者和对冲基金，这些散户投资者将他们的行为视为回报所谓的“大钱”的一种方式。</blockquote></p><p> AMC is an extremely popular (and incredibly dangerous) investment</p><p><blockquote>AMC 是一项极其受欢迎（且极其危险）的投资</blockquote></p><p> Although<b>GameStop</b>is the unquestioned king of all Reddit stocks, movie theater chain<b>AMC Entertainment Holdings</b>(NYSE:AMC)easily slots in as the second-most-popular. AMC was one of the market's most short-sold stocks in late January, and its penny-stock share price acted as an insatiable lure for young investors.</p><p><blockquote>虽然<b>游戏驿站</b>无可争议的所有 Reddit 股票之王，电影院连锁店<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）轻松成为第二受欢迎的股票。AMC 是 1 月下旬市场上卖空最多的股票之一，其细价股股价对年轻投资者具有永不满足的诱惑。</blockquote></p><p> Beyond the Reddit frenzy, optimists are also encouraged by the reopening of the U.S. economy. Movie theaters in New York City and Los Angeles are beginning to reopen, and 21% of the U.S. population has received at least one dose of a coronavirus vaccine. A return to normal appears to be in sight, and investors are betting big on AMC to take advantage of this pent-up demand.</p><p><blockquote>除了 Reddit 的狂热之外，美国经济的重新开放也让乐观主义者感到鼓舞。纽约市和洛杉矶的电影院开始重新开放，21%的美国人口已经接种了至少一剂冠状病毒疫苗。恢复正常似乎指日可待，投资者押注 AMC 以利用这种被压抑的需求。</blockquote></p><p> Unfortunately, the \"buy AMC\" thesisis flawed. The reopening catalyst assumes that there'll be no setbacks in major markets, which is unlikely. It's not yet clear if enough Americans will get the vaccine, which suggests that herd immunity could be pushed further down the road. Coronavirus variants also threaten to diminish the effectiveness of vaccines authorized for emergency use.</p><p><blockquote>不幸的是，“购买AMC”的论点存在缺陷。重新开放的催化剂假设主要市场不会出现挫折，这是不太可能的。目前还不清楚是否有足够多的美国人接种疫苗，这表明群体免疫可能会进一步推广。冠状病毒变种也有可能降低授权用于紧急使用的疫苗的有效性。</blockquote></p><p> Even more concerning, AMCnarrowly avoided filing for bankruptcy protectionearlier this year. It was forced to sell close to 165 million shares of stock and issued more than $400 million in debt capital to step back from the bankruptcy ledge. If capacity limits don't ease somewhat quickly in key markets, I'm not certain AMC will have enough capital to survive the year -- especially if there are pandemic setbacks.</p><p><blockquote>更令人担忧的是，AMCN 今年早些时候勉强避免申请破产保护。它被迫出售近1.65亿股股票，并发行超过4亿美元的债务资本，以摆脱破产边缘。如果主要市场的产能限制不能很快放松，我不确定 AMC 是否有足够的资本度过今年——特别是如果出现大流行挫折的话。</blockquote></p><p> But worst of all, AMC's core operating model is now threatened. With consumers stuck in their homes for roughly a year, select streaming services have become competitors.<b>AT&amp;T</b>&nbsp;subsidiary WarnerMedia isreleasing all of its movies in 2021 on HBO Maxthe same day they'll hit theaters.<b>Walt Disney</b>&nbsp;plans to do something similar with a couple of movies on its Disney+ streaming platform.</p><p><blockquote>但最糟糕的是，AMC的核心运营模式现在受到了威胁。随着消费者被困在家里大约一年，精选的流媒体服务已经成为竞争对手。<b>AT&amp;T</b>子公司华纳媒体将于 2021 年在 HBO Max 上发布其所有电影，同一天上映。<b>华特·迪士尼</b>计划在其Disney+流媒体平台上的几部电影上做类似的事情。</blockquote></p><p> <b>Forget AMC: These innovative stocks can make you rich</b></p><p><blockquote><b>忘记AMC：这些创新股票可以让你致富</b></blockquote></p><p> The point being that AMC is a dangerous investment that's liable to lose folks a lot of money. Instead of buying a company that's hanging on by a thread, I'd encourage you to consider purchasing the following three game-changing stocks, all of which have the tools to make you rich.</p><p><blockquote>关键是AMC是一项危险的投资，很可能会让人们损失很多钱。我鼓励您考虑购买以下三只改变游戏规则的股票，而不是购买一家悬而未决的公司，它们都拥有让您致富的工具。</blockquote></p><p> <b>Ping Identity</b></p><p><blockquote><b>Ping标识</b></blockquote></p><p> Though there are a number of trends that offer double-digit growth potential this decade,cybersecurity might be the safest of the bunch. As more businesses push online and move their data (and that of their customers) onto the cloud, the onus of protecting this data is increasingly going to fall on third-party providers. That's where<b>Ping Identity Holding</b>(NYSE:PING)comes in.</p><p><blockquote>尽管有许多趋势提供了两位数的增长潜力，但网络安全可能是其中最安全的。随着越来越多的企业将数据（及其客户的数据）转移到云上，保护这些数据的责任将越来越多地落在第三方提供商身上。就在那里<b>平身份控股</b>（纽约证券交易所代码：PING）进来了。</blockquote></p><p> Whereas most security companies excelled during the pandemic, identity verification specialist Ping Identitystruggled a bit. Full-year sales were essentially flat, with a number of clients opting for one-year subscriptions instead of multiyear plans. But there's plenty of reason to believe that this weakness was pandemic-related and only temporary.</p><p><blockquote>尽管大多数安全公司在疫情期间表现出色，但身份验证专家Ping identity却有点挣扎。全年销售额基本持平，许多客户选择一年期订阅而不是多年期计划。但有足够的理由相信，这种弱点与疫情有关，而且只是暂时的。</blockquote></p><p> Even though total sales were flat, the company's focus on subscription services helped boost annual recurring revenue (ARR) by 15% to $259.1 million. Ping also ended the year with 51 customers generating in excess of $1 million in ARR, which is up from 38 clients at the end of 2019. The company is clearly capable of scaling up its services with larger clients, and touts that its services are protecting 60% of Fortune 100 companies.</p><p><blockquote>尽管总销售额持平，但该公司对订阅服务的关注帮助将年度经常性收入 (ARR) 提高了 15%，达到 2.591 亿美元。Ping 年底还有 51 家客户的 ARR 超过 100 万美元，高于 2019 年底的 38 家客户。该公司显然有能力扩大其服务范围，并吹嘘其服务保护了 60% 的财富 100 强公司。</blockquote></p><p> What's more, 92% of its fourth-quarter sales were derived from subscriptions, and its subscription gross margin stood at 86% in that quarter of 2020. Even if its ARR growth were to motor along at, say, 15% for the next half-decade, it'd be pretty hard to overlook the cash flow potential when the company's subscriptions are generating 86% gross margin.</p><p><blockquote>更重要的是，其第四季度销售额的92%来自订阅，2020年该季度的订阅毛利率为86%。即使其 ARR 增长率在未来五年内保持 15% 的速度，当该公司的订阅产生 86% 的毛利率时，也很难忽视现金流潜力。</blockquote></p><p> Ping Identity is alsovery reasonably priced. Whereas most cybersecurity stocks are valued at 20 times sales or higher, Ping can be scooped up for around 7 times forecast sales in 2021. It just might be the best value among cybersecurity stocks.</p><p><blockquote>Ping Identity的价格也非常合理。虽然大多数网络安全股票的估值是销售额的 20 倍或更高，但 Ping 在 2021 年的估值可能是预测销售额的 7 倍左右。它可能是网络安全股票中最有价值的。</blockquote></p><p> <b>Cresco Labs</b></p><p><blockquote><b>克雷斯科实验室</b></blockquote></p><p></p><p> Marijuana stocksshould be big-time winners throughout the decade, regardless of what happens with cannabis' classification in Washington. Operating in the most lucrative market in the world, the U.S., multistate operator (MSO)<b>Cresco Labs</b>(OTC:CRLBF)has the potential to make investors rich.</p><p><blockquote>无论华盛顿对大麻的分类会发生什么变化，大麻股票都应该是未来十年的大赢家。多州运营商（MSO）在世界上最有利可图的市场美国运营<b>克雷斯科实验室</b>（场外交易代码：CRLBF）有潜力让投资者致富。</blockquote></p><p> As with most MSOs, Cresco's success will depend somewhat on its retail presence. The company entered the year with only 20 open dispensaries, but has been leaning on acquisitions to expand. Closing the Verdant Creations deal maximized its presence in Ohio, while the pending<b>Bluma Wellness</b>buyout will give the company a healthy presence in medical-marijuana-legal Florida.</p><p><blockquote>与大多数 MSO 一样，Cresco 的成功在一定程度上取决于其零售业务。该公司今年只有 20 家开放式药房，但一直依靠收购来扩张。完成 Verdant Creations 交易最大限度地扩大了其在俄亥俄州的业务，而悬而未决的交易<b>布鲁玛健康</b>收购将使该公司在医用大麻合法的佛罗里达州有一个健康的存在。</blockquote></p><p> Yet what's interesting about Cresco Labs is that its retail game planmostly revolves around limited-license states. In particular, over 60% of its open locations are in states where the number of retail licenses is capped by regulators. Pushing into states with caps on dispensary licenses is a smart way for Cresco to build up its brand while facing minimal competition.</p><p><blockquote>然而，Cresco Labs 的有趣之处在于，它的零售游戏计划主要围绕有限许可州。特别是，其超过 60% 的营业地点位于监管机构对零售许可证数量设定上限的州。对于 Cresco 来说，在面临最小竞争的情况下，进入对药房许可证有上限的州是建立品牌的明智方式。</blockquote></p><p> However, thebigger growth driver for the companyis likely to be its wholesale operations. Even though wholesale cannabis offers lower margins than retail, Cresco has more than enough volume to overlook any margin differences. That's because it holds one of the highly coveted cannabis distribution licenses in California, which allows the company to place proprietary and third-party products into more than 575 dispensaries throughout the Golden State.</p><p><blockquote>然而，该公司更大的增长动力可能是其批发业务。尽管批发大麻的利润率低于零售，但 Cresco 的销量足以忽略任何利润率差异。这是因为它拥有加利福尼亚州令人垂涎的大麻分销许可证之一，这使得该公司能够将专有和第三方产品投放到整个金州超过 575 家药房。</blockquote></p><p> With Cresco's projected growth surpassing many of its peers, it has a good chance to put some serious green into the pockets of its shareholders.</p><p><blockquote>由于 Cresco 的预计增长超过了许多同行，它有很好的机会为股东带来一些可观的绿色收益。</blockquote></p><p> <b>Intuitive Surgical</b></p><p><blockquote><b>直观手术</b></blockquote></p><p> Lastly, investors should forget all about AMC Entertainment andbuy into a real game-changerin the healthcare sector,<b>Intuitive Surgical</b>(NASDAQ:ISRG).</p><p><blockquote>最后，投资者应该忘记AMC院线，买入医疗保健行业真正的游戏规则改变者，<b>直观手术</b>（纳斯达克股票代码：ISRG）</blockquote></p><p> Intuitive Surgical is best known for its robotic-assisted surgical system, the da Vinci, which allows surgeons to make precise incisions that can reduce scarring and shorten hospital stays. For insurers, it can lead to higher up-front costs, but reduce extended hospital stays that can prove even costlier.</p><p><blockquote>Intuitive Surgical 以其机器人辅助手术系统 da Vinci 而闻名，该系统允许外科医生进行精确切口，从而减少疤痕并缩短住院时间。对于保险公司来说，这可能会导致更高的前期成本，但会减少延长住院时间，而延长住院时间的成本可能会更高。</blockquote></p><p> The da Vinci system is the unquestioned leader in robotic-assisted surgery. Intuitive has placed close to 6,000 of its machines worldwide since 2000, which is more than all of the company's competitors combined. The company has been able to build priceless rapport with surgeons in hospitals and surgical centers, which makes ithighly unlikelythat we'll see its clients switch to a competing system.</p><p><blockquote>达芬奇系统是机器人辅助手术领域无可争议的领导者。自 2000 年以来，Intuitive 已在全球放置了近 6,000 台机器，超过了该公司所有竞争对手的总和。该公司已经能够与医院和手术中心的外科医生建立无价的融洽关系，这使得我们不太可能看到其客户转向竞争系统。</blockquote></p><p> But it's not just the company's overwhelming competitive edge that makes it such an attractive stock. Its operating model isdesigned to grow more efficient over time. As more da Vinci systems are installed, a higher percentage of sales will be derived from segments with juicier margins, such as instruments and accessories sold with each procedure, as well as system servicing.</p><p><blockquote>但使其成为如此有吸引力的股票的不仅仅是该公司压倒性的竞争优势。其运营模式旨在随着时间的推移变得更加高效。随着更多达芬奇系统的安装，更高比例的销售额将来自利润率更高的细分市场，例如与每个程序一起销售的仪器和配件，以及系统服务。</blockquote></p><p> Intuitive Surgical is just beginning to realize its opportunity with its innovative soft-tissue surgical solutions. Expect the da Vinci to pick up significant market share in thoracic, colorectal, and general soft-tissue procedures throughout the decade.</p><p><blockquote>Intuitive Surgical凭借其创新的软组织手术解决方案刚刚开始意识到其机遇。预计达芬奇将在整个十年中在胸部、结肠直肠和一般软组织手术领域占据重要的市场份额。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/forget-amc-entertainment-these-stock-make-you-rich/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ISRG":"直觉外科公司","CRLBF":"Cresco Labs Inc."},"source_url":"https://www.fool.com/investing/2021/03/19/forget-amc-entertainment-these-stock-make-you-rich/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177407243","content_text":"These innovative companies should run circles around Reddit darling AMC.\n\nOver the past two months, Wall Street has watched a new phenomenon take shape:the Reddit frenzy.\nRetail investors on Reddit's WallStreetBets (WSB) chat room have essentially banded together to buy shares andout-of-the-money call optionson stocks with high levels of short interest. The goal of the WSB community is to create a short squeeze that sends heavily shorted stocks rocketing higher. Since the vast majority of short-sellers are institutional investors and hedge funds, these retail investors view their actions as a way of getting back at the so-called \"big money.\"\nAMC is an extremely popular (and incredibly dangerous) investment\nAlthoughGameStopis the unquestioned king of all Reddit stocks, movie theater chainAMC Entertainment Holdings(NYSE:AMC)easily slots in as the second-most-popular. AMC was one of the market's most short-sold stocks in late January, and its penny-stock share price acted as an insatiable lure for young investors.\nBeyond the Reddit frenzy, optimists are also encouraged by the reopening of the U.S. economy. Movie theaters in New York City and Los Angeles are beginning to reopen, and 21% of the U.S. population has received at least one dose of a coronavirus vaccine. A return to normal appears to be in sight, and investors are betting big on AMC to take advantage of this pent-up demand.\nUnfortunately, the \"buy AMC\" thesisis flawed. The reopening catalyst assumes that there'll be no setbacks in major markets, which is unlikely. It's not yet clear if enough Americans will get the vaccine, which suggests that herd immunity could be pushed further down the road. Coronavirus variants also threaten to diminish the effectiveness of vaccines authorized for emergency use.\nEven more concerning, AMCnarrowly avoided filing for bankruptcy protectionearlier this year. It was forced to sell close to 165 million shares of stock and issued more than $400 million in debt capital to step back from the bankruptcy ledge. If capacity limits don't ease somewhat quickly in key markets, I'm not certain AMC will have enough capital to survive the year -- especially if there are pandemic setbacks.\nBut worst of all, AMC's core operating model is now threatened. With consumers stuck in their homes for roughly a year, select streaming services have become competitors.AT&T subsidiary WarnerMedia isreleasing all of its movies in 2021 on HBO Maxthe same day they'll hit theaters.Walt Disney plans to do something similar with a couple of movies on its Disney+ streaming platform.\nForget AMC: These innovative stocks can make you rich\nThe point being that AMC is a dangerous investment that's liable to lose folks a lot of money. Instead of buying a company that's hanging on by a thread, I'd encourage you to consider purchasing the following three game-changing stocks, all of which have the tools to make you rich.\nPing Identity\nThough there are a number of trends that offer double-digit growth potential this decade,cybersecurity might be the safest of the bunch. As more businesses push online and move their data (and that of their customers) onto the cloud, the onus of protecting this data is increasingly going to fall on third-party providers. That's wherePing Identity Holding(NYSE:PING)comes in.\nWhereas most security companies excelled during the pandemic, identity verification specialist Ping Identitystruggled a bit. Full-year sales were essentially flat, with a number of clients opting for one-year subscriptions instead of multiyear plans. But there's plenty of reason to believe that this weakness was pandemic-related and only temporary.\nEven though total sales were flat, the company's focus on subscription services helped boost annual recurring revenue (ARR) by 15% to $259.1 million. Ping also ended the year with 51 customers generating in excess of $1 million in ARR, which is up from 38 clients at the end of 2019. The company is clearly capable of scaling up its services with larger clients, and touts that its services are protecting 60% of Fortune 100 companies.\nWhat's more, 92% of its fourth-quarter sales were derived from subscriptions, and its subscription gross margin stood at 86% in that quarter of 2020. Even if its ARR growth were to motor along at, say, 15% for the next half-decade, it'd be pretty hard to overlook the cash flow potential when the company's subscriptions are generating 86% gross margin.\nPing Identity is alsovery reasonably priced. Whereas most cybersecurity stocks are valued at 20 times sales or higher, Ping can be scooped up for around 7 times forecast sales in 2021. It just might be the best value among cybersecurity stocks.\nCresco Labs\nMarijuana stocksshould be big-time winners throughout the decade, regardless of what happens with cannabis' classification in Washington. Operating in the most lucrative market in the world, the U.S., multistate operator (MSO)Cresco Labs(OTC:CRLBF)has the potential to make investors rich.\nAs with most MSOs, Cresco's success will depend somewhat on its retail presence. The company entered the year with only 20 open dispensaries, but has been leaning on acquisitions to expand. Closing the Verdant Creations deal maximized its presence in Ohio, while the pendingBluma Wellnessbuyout will give the company a healthy presence in medical-marijuana-legal Florida.\nYet what's interesting about Cresco Labs is that its retail game planmostly revolves around limited-license states. In particular, over 60% of its open locations are in states where the number of retail licenses is capped by regulators. Pushing into states with caps on dispensary licenses is a smart way for Cresco to build up its brand while facing minimal competition.\nHowever, thebigger growth driver for the companyis likely to be its wholesale operations. Even though wholesale cannabis offers lower margins than retail, Cresco has more than enough volume to overlook any margin differences. That's because it holds one of the highly coveted cannabis distribution licenses in California, which allows the company to place proprietary and third-party products into more than 575 dispensaries throughout the Golden State.\nWith Cresco's projected growth surpassing many of its peers, it has a good chance to put some serious green into the pockets of its shareholders.\nIntuitive Surgical\nLastly, investors should forget all about AMC Entertainment andbuy into a real game-changerin the healthcare sector,Intuitive Surgical(NASDAQ:ISRG).\nIntuitive Surgical is best known for its robotic-assisted surgical system, the da Vinci, which allows surgeons to make precise incisions that can reduce scarring and shorten hospital stays. For insurers, it can lead to higher up-front costs, but reduce extended hospital stays that can prove even costlier.\nThe da Vinci system is the unquestioned leader in robotic-assisted surgery. Intuitive has placed close to 6,000 of its machines worldwide since 2000, which is more than all of the company's competitors combined. The company has been able to build priceless rapport with surgeons in hospitals and surgical centers, which makes ithighly unlikelythat we'll see its clients switch to a competing system.\nBut it's not just the company's overwhelming competitive edge that makes it such an attractive stock. Its operating model isdesigned to grow more efficient over time. As more da Vinci systems are installed, a higher percentage of sales will be derived from segments with juicier margins, such as instruments and accessories sold with each procedure, as well as system servicing.\nIntuitive Surgical is just beginning to realize its opportunity with its innovative soft-tissue surgical solutions. Expect the da Vinci to pick up significant market share in thoracic, colorectal, and general soft-tissue procedures throughout the decade.","news_type":1,"symbols_score_info":{"PING":0.9,"ISRG":0.9,"CRLBF":0.9}},"isVote":1,"tweetType":1,"viewCount":1620,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359388862,"gmtCreate":1616343942456,"gmtModify":1634526284772,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359388862","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohunote.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350294402,"gmtCreate":1616208560106,"gmtModify":1634526720928,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Ape together strong&nbsp;","listText":"Ape together strong&nbsp;","text":"Ape together strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350294402","repostId":"1128367483","repostType":4,"isVote":1,"tweetType":1,"viewCount":2561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350099136,"gmtCreate":1616133622425,"gmtModify":1634527061349,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Match","listText":"Match","text":"Match","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350099136","repostId":"1133615560","repostType":4,"repost":{"id":"1133615560","kind":"news","pubTimestamp":1616132176,"share":"https://www.laohunote.com/m/news/1133615560?lang=zh_CN&edition=full","pubTime":"2021-03-19 13:36","market":"us","language":"en","title":"Six ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133615560","media":"MarketWatch","summary":"Executives are snapping up shares of their own companies, which is typically a bullish sign.\nWith va","content":"<p>Executives are snapping up shares of their own companies, which is typically a bullish sign.</p><p><blockquote>高管们正在抢购自己公司的股票，这通常是一个看涨的迹象。</blockquote></p><p> With vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.</p><p><blockquote>随着疫苗的推广和个人储蓄屡创新高，股市的 “重新开放 ”风靡一时。甚至吉姆·克莱默也加入了进来。</blockquote></p><p> As a contrarian, I’ve been suggesting reopening plays in&nbsp;this column&nbsp;and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.</p><p><blockquote>作为一名反向投资者，一年多来，我一直在本专栏和我的股票信中建议重新开盘（链接在下面的简历中）。在许多情况下，它们的数量翻了一番，甚至更多。现在看到人群进来让我很紧张。这往往是一个主题走到最后的标志。</blockquote></p><p> Wait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.</p><p><blockquote>等等，重新开放的主题怎么会在重新开放发生之前就花掉呢？这很简单。通常提前六个月营销价格事件。</blockquote></p><p> But I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.</p><p><blockquote>但我认为这个还有更多的事情要做，原因很简单。我密切关注企业内部人士，在过去的几周里，他们一直是约会、旅游和零售领域典型重新开放游戏的巨大买家。</blockquote></p><p> Here’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.</p><p><blockquote>以下是购买情况的综述，告诉我这个主题还有发展空间。内部买入还表明这六只股票可能会延长其优异表现。</blockquote></p><p> <b>Dating is making a comeback</b></p><p><blockquote><b>约会正在卷土重来</b></blockquote></p><p> Millions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.</p><p><blockquote>由于担心感染 Covid-19，数百万人减少了约会。这将在重新开业期间发生巨大变化，为约会应用公司 Bumble 提供推动力。</blockquote></p><p> We’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.</p><p><blockquote>我们已经看到了单身人士真正想要交往的早期迹象--而且不仅仅是在佛罗里达州的大型春假聚会上。受第二和第三季度 Covid-19 担忧高峰的拖累，Bumble 第四季度收入增长了 31%，而 2020 年全年增长较为缓慢的 10%。第四季度，为高级版本服务付费的用户增长了 32.5%，而全年增长了 22.2%。</blockquote></p><p> Bumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).</p><p><blockquote>Bumble是一款约会应用，它有一个转折，那就是只有女性才能在双方都表示有兴趣后，通过在个人资料上向右滑动来发起联系。该公司的 Bumble 和 Badoo 应用程序上的高级功能允许用户看到谁在他们身上滑动，发布更多个人信息，并突出个人资料。根据发表在《美国国家科学院院刊》（PNAS）上的一项研究，在线约会应用程序现在是美国新婚夫妇见面的最常见方式。</blockquote></p><p> Director Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd&nbsp;bought $21 million worth at $43.</p><p><blockquote>2月中旬，Bumble上市时，董事帕梅拉·托马斯-格雷厄姆（Pamela Thomas-Graham）以76.23美元的价格购买了价值49.8万美元的股票，首席执行官惠特尼·沃尔夫·赫德（Whitney Wolfe Herd）以43美元的价格购买了价值2100万美元的股票。</blockquote></p><p> <b>Wanderlust returns</b></p><p><blockquote><b>旅行癖回归</b></blockquote></p><p> I’ve been suggesting Avis Budget Group&nbsp;in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.&nbsp; It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.</p><p><blockquote>自从去年 10 月初 Avis Budget Group 的交易价格为 31 美元以来，我就一直在我的股票信中推荐它。现在价格上涨了 122%，达到 69 美元，但我最近建议用户继续持有。是的，疫情压垮了租金。但是人们真的很想出去旅行。所以这家公司的生意今年真的会好转。Avis经营着Budget和Zipcar租赁品牌，是一家航空旅行公司。它在北美、欧洲和澳大拉西亚的机场拥有巨大的影响力。Avis拥有超过10,600个租赁地点。</blockquote></p><p> Avis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.</p><p><blockquote>安飞士在疫情期间削减了19%的机队，在降低成本方面做了值得称赞的工作。因此，尽管收入下降了 41%，但这并不是破产风险。</blockquote></p><p> The big buyer who first got me interested in this stock was director Karthik&nbsp;Sarma. His SRS&nbsp;Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.</p><p><blockquote>第一个让我对这只股票感兴趣的大买家是导演卡尔西克·萨尔马。他的 SRS Investment Management 去年 5 月至 12 月以 18.57 美元至 39.20 美元的价格稳步买入。Avis 目前占他投资组合的 11.4%。最近，首席财务官 Brian Choi 接任大买家，于 2 月份以每股 46-56 美元的价格购买了价值 164 万美元的股票。业内人士不会在短期交易中买入，因此这次买入--再加上即将重新开放的旅游热潮--告诉我，该股仍需持有。</blockquote></p><p> <b>Fast-food binge</b></p><p><blockquote><b>快餐狂欢</b></blockquote></p><p> As the second-largest fast-food burger chain in the U.S., Wendy’s&nbsp;will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.</p><p><blockquote>作为美国第二大快餐汉堡连锁店，Wendy's 的销售额将随着消费者走出隐秘状态而大幅提升。当然，温迪的数字业务在大流行病期间表现强劲。但首席执行官托德-佩内戈尔（Todd Penegor）表示，客流量的改善仍将推动这家以具有竞争力的价格专营 “新鲜且令人垂涎 ”食品的连锁店的销售额。</blockquote></p><p> From small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.</p><p><blockquote>Wendy's 于 1969 年在俄亥俄州哥伦布市成立，现已发展成为全球第三大汉堡连锁店，拥有 6800 多家餐厅。其中大部分是特许经营，这提高了利润率。尽管大流行病肆虐，温迪餐厅去年还是开设了 35 家餐厅，没有关门。这一数字低于 2019 年的 77 个净开业数。但它将在 2021 年弥补失地，净增约 170 家新餐厅，使餐厅总数超过 7000 家。</blockquote></p><p> Last year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.</p><p><blockquote>去年，Wendy 的新早餐菜单大受欢迎，预计这将在 2021 年再次成为增长动力。该公司预计早餐业务今年将增长 30%，到 2022 年底将达到总销售额的 10%，高于去年的 7%。</blockquote></p><p> Wendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.</p><p><blockquote>Wendy's 预计今年同店销售额将增长 10%，推动每股收益增长 19%，达到 0.67 美元至 0.69 美元，运营现金流增长 12.5%，达到指导中点 3.2 亿美元。</blockquote></p><p></p><p> All of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.</p><p><blockquote>所有这些无疑有助于解释为什么首席法律官E.J。Wunsch 最近以 18.98 美元的价格购买了价值 142,300 美元的股票。</blockquote></p><p> <b>The h</b><b>ousing boom isn’t over yet</b></p><p><blockquote><b>h</b><b>唤醒热潮尚未结束</b></blockquote></p><p> With interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair&nbsp;and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)</p><p><blockquote>根据最近另一个流行的迷因，随着利率上升，房地产行业应该会降温。但业内人士不同意。最近，两家最大的家居相关零售商 Wayfair 和 Lowe's 发生了大量内幕交易。当然，有一些公司趋势有助于解释这一点。但由于股票三分之一的变动通常来自行业表现，因此这也是对房地产趋势的一种说明。（其他三分之二的股票走势来自公司趋势和整体股票市场趋势。）</blockquote></p><p> Here’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.</p><p><blockquote>以下是 30 年期抵押贷款利率。如您所见，与历史平均水平相比，这一数字仍然很低。</blockquote></p><p> The bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.</p><p><blockquote>Leuthold group 市场策略师吉姆·保尔森 (Jim Paulsen) 指出，这种看涨情绪是有道理的，因为抵押贷款利率仍处于历史低位。这意味着人们对购房和相关零售商的持续兴趣。</blockquote></p><p> Insiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin&nbsp;at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.</p><p><blockquote>业内人士当然认同这种想法。最近，首席执行官迈克尔·安德鲁·库明 (Michael Andrew Kumin) 以每股约 287 美元的价格购买了家居零售商 Wayfair 价值 1360 万美元的股票。Wayfair在与消费者的联系方面做得很好。去年美国销售额增长了 55%，海外销售额增长了 65%。第四季度客户数量增长 54%，达到 3120 万。重复采购占其业务的70%以上。Wayfair还与供应商密切合作，帮助他们进行物流、销售和营销，让他们满意。</blockquote></p><p> At Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.</p><p><blockquote>在 Lowe's，董事 David Batchelder 最近以 159.47 美元的价格购买了价值约 100 万美元的股票。劳氏是仅次于家得宝（Home Depot）的全球第二大家装零售商，自首席执行官马文-埃里森（Marvin Ellison）于2018年接任并引入新团队以来，劳氏一直在提高利润率、商品销售和库存。但收益还没有结束。该公司表示，2021 年营业利润率将超过 11%，最终达到 13%，而 2019 年为 9%。</blockquote></p><p> <b>The big get bigger</b></p><p><blockquote><b>大的变大</b></blockquote></p><p> As the nation’s largest retailer, Walmart&nbsp;stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&amp;T&nbsp;CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.</p><p><blockquote>作为美国最大的零售商，沃尔玛将从重新开业中受益，随着消费者信心增强，所有被压抑的需求都将被释放出来，消费者将从创纪录的高储蓄中获益。这有助于解释为什么沃尔玛董事、美国电话电报公司前首席执行官兰德尔-斯蒂芬森（Randall Stephenson）最近以 129.63 美元的价格向这家零售商的股票投入了 100 万美元。</blockquote></p><p> Walmart is also investing heavily in automation, which should improve productivity and profit margins.</p><p><blockquote>沃尔玛还在自动化方面投入巨资，这应该会提高生产率和利润率。</blockquote></p><p> Morningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.</p><p><blockquote>晨星分析师 Zain Akbari 预测今年以及未来十年的销售额增长将达到低个位数。</blockquote></p><p> Walmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.</p><p><blockquote>阿克巴里说，沃尔玛规模如此之大，以至于它与供应商谈判有利条件，以保持竞争力，从而支持零售商的广泛护城河。如果全国每小时 15 美元的最低工资标准获得通过，对沃尔玛来说也不会是毁灭性的。平均而言，它支付给销售助理的工资已经超过了这个数字。沃尔玛为投资者提供 1.6% 的股息收益率。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Six ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSix ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-19 13:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Executives are snapping up shares of their own companies, which is typically a bullish sign.</p><p><blockquote>高管们正在抢购自己公司的股票，这通常是一个看涨的迹象。</blockquote></p><p> With vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.</p><p><blockquote>随着疫苗的推广和个人储蓄屡创新高，股市的 “重新开放 ”风靡一时。甚至吉姆·克莱默也加入了进来。</blockquote></p><p> As a contrarian, I’ve been suggesting reopening plays in&nbsp;this column&nbsp;and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.</p><p><blockquote>作为一名反向投资者，一年多来，我一直在本专栏和我的股票信中建议重新开盘（链接在下面的简历中）。在许多情况下，它们的数量翻了一番，甚至更多。现在看到人群进来让我很紧张。这往往是一个主题走到最后的标志。</blockquote></p><p> Wait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.</p><p><blockquote>等等，重新开放的主题怎么会在重新开放发生之前就花掉呢？这很简单。通常提前六个月营销价格事件。</blockquote></p><p> But I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.</p><p><blockquote>但我认为这个还有更多的事情要做，原因很简单。我密切关注企业内部人士，在过去的几周里，他们一直是约会、旅游和零售领域典型重新开放游戏的巨大买家。</blockquote></p><p> Here’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.</p><p><blockquote>以下是购买情况的综述，告诉我这个主题还有发展空间。内部买入还表明这六只股票可能会延长其优异表现。</blockquote></p><p> <b>Dating is making a comeback</b></p><p><blockquote><b>约会正在卷土重来</b></blockquote></p><p> Millions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.</p><p><blockquote>由于担心感染 Covid-19，数百万人减少了约会。这将在重新开业期间发生巨大变化，为约会应用公司 Bumble 提供推动力。</blockquote></p><p> We’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.</p><p><blockquote>我们已经看到了单身人士真正想要交往的早期迹象--而且不仅仅是在佛罗里达州的大型春假聚会上。受第二和第三季度 Covid-19 担忧高峰的拖累，Bumble 第四季度收入增长了 31%，而 2020 年全年增长较为缓慢的 10%。第四季度，为高级版本服务付费的用户增长了 32.5%，而全年增长了 22.2%。</blockquote></p><p> Bumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).</p><p><blockquote>Bumble是一款约会应用，它有一个转折，那就是只有女性才能在双方都表示有兴趣后，通过在个人资料上向右滑动来发起联系。该公司的 Bumble 和 Badoo 应用程序上的高级功能允许用户看到谁在他们身上滑动，发布更多个人信息，并突出个人资料。根据发表在《美国国家科学院院刊》（PNAS）上的一项研究，在线约会应用程序现在是美国新婚夫妇见面的最常见方式。</blockquote></p><p> Director Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd&nbsp;bought $21 million worth at $43.</p><p><blockquote>2月中旬，Bumble上市时，董事帕梅拉·托马斯-格雷厄姆（Pamela Thomas-Graham）以76.23美元的价格购买了价值49.8万美元的股票，首席执行官惠特尼·沃尔夫·赫德（Whitney Wolfe Herd）以43美元的价格购买了价值2100万美元的股票。</blockquote></p><p> <b>Wanderlust returns</b></p><p><blockquote><b>旅行癖回归</b></blockquote></p><p> I’ve been suggesting Avis Budget Group&nbsp;in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.&nbsp; It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.</p><p><blockquote>自从去年 10 月初 Avis Budget Group 的交易价格为 31 美元以来，我就一直在我的股票信中推荐它。现在价格上涨了 122%，达到 69 美元，但我最近建议用户继续持有。是的，疫情压垮了租金。但是人们真的很想出去旅行。所以这家公司的生意今年真的会好转。Avis经营着Budget和Zipcar租赁品牌，是一家航空旅行公司。它在北美、欧洲和澳大拉西亚的机场拥有巨大的影响力。Avis拥有超过10,600个租赁地点。</blockquote></p><p> Avis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.</p><p><blockquote>安飞士在疫情期间削减了19%的机队，在降低成本方面做了值得称赞的工作。因此，尽管收入下降了 41%，但这并不是破产风险。</blockquote></p><p> The big buyer who first got me interested in this stock was director Karthik&nbsp;Sarma. His SRS&nbsp;Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.</p><p><blockquote>第一个让我对这只股票感兴趣的大买家是导演卡尔西克·萨尔马。他的 SRS Investment Management 去年 5 月至 12 月以 18.57 美元至 39.20 美元的价格稳步买入。Avis 目前占他投资组合的 11.4%。最近，首席财务官 Brian Choi 接任大买家，于 2 月份以每股 46-56 美元的价格购买了价值 164 万美元的股票。业内人士不会在短期交易中买入，因此这次买入--再加上即将重新开放的旅游热潮--告诉我，该股仍需持有。</blockquote></p><p> <b>Fast-food binge</b></p><p><blockquote><b>快餐狂欢</b></blockquote></p><p> As the second-largest fast-food burger chain in the U.S., Wendy’s&nbsp;will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.</p><p><blockquote>作为美国第二大快餐汉堡连锁店，Wendy's 的销售额将随着消费者走出隐秘状态而大幅提升。当然，温迪的数字业务在大流行病期间表现强劲。但首席执行官托德-佩内戈尔（Todd Penegor）表示，客流量的改善仍将推动这家以具有竞争力的价格专营 “新鲜且令人垂涎 ”食品的连锁店的销售额。</blockquote></p><p> From small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.</p><p><blockquote>Wendy's 于 1969 年在俄亥俄州哥伦布市成立，现已发展成为全球第三大汉堡连锁店，拥有 6800 多家餐厅。其中大部分是特许经营，这提高了利润率。尽管大流行病肆虐，温迪餐厅去年还是开设了 35 家餐厅，没有关门。这一数字低于 2019 年的 77 个净开业数。但它将在 2021 年弥补失地，净增约 170 家新餐厅，使餐厅总数超过 7000 家。</blockquote></p><p> Last year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.</p><p><blockquote>去年，Wendy 的新早餐菜单大受欢迎，预计这将在 2021 年再次成为增长动力。该公司预计早餐业务今年将增长 30%，到 2022 年底将达到总销售额的 10%，高于去年的 7%。</blockquote></p><p> Wendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.</p><p><blockquote>Wendy's 预计今年同店销售额将增长 10%，推动每股收益增长 19%，达到 0.67 美元至 0.69 美元，运营现金流增长 12.5%，达到指导中点 3.2 亿美元。</blockquote></p><p></p><p> All of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.</p><p><blockquote>所有这些无疑有助于解释为什么首席法律官E.J。Wunsch 最近以 18.98 美元的价格购买了价值 142,300 美元的股票。</blockquote></p><p> <b>The h</b><b>ousing boom isn’t over yet</b></p><p><blockquote><b>h</b><b>唤醒热潮尚未结束</b></blockquote></p><p> With interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair&nbsp;and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)</p><p><blockquote>根据最近另一个流行的迷因，随着利率上升，房地产行业应该会降温。但业内人士不同意。最近，两家最大的家居相关零售商 Wayfair 和 Lowe's 发生了大量内幕交易。当然，有一些公司趋势有助于解释这一点。但由于股票三分之一的变动通常来自行业表现，因此这也是对房地产趋势的一种说明。（其他三分之二的股票走势来自公司趋势和整体股票市场趋势。）</blockquote></p><p> Here’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.</p><p><blockquote>以下是 30 年期抵押贷款利率。如您所见，与历史平均水平相比，这一数字仍然很低。</blockquote></p><p> The bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.</p><p><blockquote>Leuthold group 市场策略师吉姆·保尔森 (Jim Paulsen) 指出，这种看涨情绪是有道理的，因为抵押贷款利率仍处于历史低位。这意味着人们对购房和相关零售商的持续兴趣。</blockquote></p><p> Insiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin&nbsp;at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.</p><p><blockquote>业内人士当然认同这种想法。最近，首席执行官迈克尔·安德鲁·库明 (Michael Andrew Kumin) 以每股约 287 美元的价格购买了家居零售商 Wayfair 价值 1360 万美元的股票。Wayfair在与消费者的联系方面做得很好。去年美国销售额增长了 55%，海外销售额增长了 65%。第四季度客户数量增长 54%，达到 3120 万。重复采购占其业务的70%以上。Wayfair还与供应商密切合作，帮助他们进行物流、销售和营销，让他们满意。</blockquote></p><p> At Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.</p><p><blockquote>在 Lowe's，董事 David Batchelder 最近以 159.47 美元的价格购买了价值约 100 万美元的股票。劳氏是仅次于家得宝（Home Depot）的全球第二大家装零售商，自首席执行官马文-埃里森（Marvin Ellison）于2018年接任并引入新团队以来，劳氏一直在提高利润率、商品销售和库存。但收益还没有结束。该公司表示，2021 年营业利润率将超过 11%，最终达到 13%，而 2019 年为 9%。</blockquote></p><p> <b>The big get bigger</b></p><p><blockquote><b>大的变大</b></blockquote></p><p> As the nation’s largest retailer, Walmart&nbsp;stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&amp;T&nbsp;CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.</p><p><blockquote>作为美国最大的零售商，沃尔玛将从重新开业中受益，随着消费者信心增强，所有被压抑的需求都将被释放出来，消费者将从创纪录的高储蓄中获益。这有助于解释为什么沃尔玛董事、美国电话电报公司前首席执行官兰德尔-斯蒂芬森（Randall Stephenson）最近以 129.63 美元的价格向这家零售商的股票投入了 100 万美元。</blockquote></p><p> Walmart is also investing heavily in automation, which should improve productivity and profit margins.</p><p><blockquote>沃尔玛还在自动化方面投入巨资，这应该会提高生产率和利润率。</blockquote></p><p> Morningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.</p><p><blockquote>晨星分析师 Zain Akbari 预测今年以及未来十年的销售额增长将达到低个位数。</blockquote></p><p> Walmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.</p><p><blockquote>阿克巴里说，沃尔玛规模如此之大，以至于它与供应商谈判有利条件，以保持竞争力，从而支持零售商的广泛护城河。如果全国每小时 15 美元的最低工资标准获得通过，对沃尔玛来说也不会是毁灭性的。平均而言，它支付给销售助理的工资已经超过了这个数字。沃尔玛为投资者提供 1.6% 的股息收益率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/six-reopening-stocks-including-bumble-and-wayfair-that-company-insiders-absolutely-love-11616082045?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WEN":"温蒂汉堡","BMBL":"Bumble Inc.","CAR":"安飞士","WMT":"沃尔玛","W":"Wayfair","T":"At&T","LOW":"劳氏","HD":"家得宝"},"source_url":"https://www.marketwatch.com/story/six-reopening-stocks-including-bumble-and-wayfair-that-company-insiders-absolutely-love-11616082045?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1133615560","content_text":"Executives are snapping up shares of their own companies, which is typically a bullish sign.\nWith vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.\nAs a contrarian, I’ve been suggesting reopening plays in this column and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.\nWait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.\nBut I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.\nHere’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.\nDating is making a comeback\nMillions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.\nWe’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.\nBumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).\nDirector Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd bought $21 million worth at $43.\nWanderlust returns\nI’ve been suggesting Avis Budget Group in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.  It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.\nAvis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.\nThe big buyer who first got me interested in this stock was director Karthik Sarma. His SRS Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.\nFast-food binge\nAs the second-largest fast-food burger chain in the U.S., Wendy’s will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.\nFrom small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.\nLast year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.\nWendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.\nAll of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.\nThe housing boom isn’t over yet\nWith interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)\nHere’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.\nThe bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.\nInsiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.\nAt Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.\nThe big get bigger\nAs the nation’s largest retailer, Walmart stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&T CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.\nWalmart is also investing heavily in automation, which should improve productivity and profit margins.\nMorningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.\nWalmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.","news_type":1,"symbols_score_info":{"WMT":0.9,"LOW":0.9,"W":0.9,"WEN":0.9,"CAR":0.9,"HD":0.9,"T":0.9,"BMBL":0.9}},"isVote":1,"tweetType":1,"viewCount":1716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327014281,"gmtCreate":1616038758743,"gmtModify":1703496731326,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"To the moon&nbsp;","listText":"To the moon&nbsp;","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327014281","repostId":"1129519091","repostType":4,"isVote":1,"tweetType":1,"viewCount":2291,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324310166,"gmtCreate":1615962131155,"gmtModify":1703495578048,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"H7pl","listText":"H7pl","text":"H7pl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324310166","repostId":"1127014629","repostType":4,"isVote":1,"tweetType":1,"viewCount":3256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324996500,"gmtCreate":1615949129600,"gmtModify":1703495414557,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Inflation&nbsp;","listText":"Inflation&nbsp;","text":"Inflation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324996500","repostId":"2119197149","repostType":4,"isVote":1,"tweetType":1,"viewCount":4137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324991473,"gmtCreate":1615948985892,"gmtModify":1703495411775,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Moon","listText":"Moon","text":"Moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324991473","repostId":"1103121082","repostType":4,"repost":{"id":"1103121082","kind":"news","pubTimestamp":1615948559,"share":"https://www.laohunote.com/m/news/1103121082?lang=zh_CN&edition=full","pubTime":"2021-03-17 10:35","market":"us","language":"en","title":"Easy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103121082","media":"Barrons","summary":"The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter ec","content":"<p>The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.</p><p><blockquote>美联储本周采取了一个尴尬的平衡行动：它很可能会立即发布更乐观的经济预测，同时试图向投资者保证，美联储仍然 “没有考虑 ”加息，而且也不需要加息。</blockquote></p><p> More-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.</p><p><blockquote>对国内生产总值、失业率和通货膨胀的更乐观的估计通常会促使人们承认货币政策将反过来开始收紧。对于依赖数据的美联储来说，经济改善速度远超预期的信息与利率将在 2023 年之前保持接近于零的信息不一致。随着投资者对新的经济预测、显示最新利率预测的点阵图以及主席杰罗姆-鲍威尔（Jerome Powell）的新闻发布会的关注，美联储的政策机构联邦公开市场委员会将如何试图平衡这些相互矛盾的动态。</blockquote></p><p> “It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”</p><p><blockquote>“牛津经济研究院（Oxford Economics）首席美国金融经济学家凯西-博斯特扬西奇（Kathy Bostjancic）说：”这对他们来说是一条微妙的路线，因为在经济数据改善、Covid-19 疫苗接种和通胀担忧加剧的情况下，债券市场价格进一步收紧，而美联储则重申了其鸽派立场。“你如何在传达你不会落后于时代的同时传达耐心？”</blockquote></p><p> The rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.</p><p><blockquote>费率决定和更新材料将于本周三下午2点发布东部时间，鲍威尔将进行问答环节。以下是华尔街正在关注的内容。</blockquote></p><p> <b>Updated economic forecasts:</b>In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.</p><p><blockquote><b>更新的经济预测：</b>在 12 月份的经济预测摘要中，FOMC 预计 2021 年 GDP 增长率为 4.2%，2022 年为 3.2%，到 2023 年底通胀预期将达到 2%，从而意味着利率将在 2024 年开始上升。</blockquote></p><p> Aneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)</p><p><blockquote>Jefferies首席经济学家Aneta Markowska认为，FOMC将把未来两年的GDP预测分别上调至6%和4%左右。她表示，到 2022 年下半年，这应该会将失业率推至自然率以下（在通胀保持稳定的情况下，一个经济体可以维持的最低失业率），这意味着 2% 的通胀预测将被提前至 2022 年底——因此，第一次加息被提前至 2023 年。（12月，美联储预计今年年底通胀率为1.8%。）</blockquote></p><p> Fed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.</p><p><blockquote>美联储官员对让通胀率高于 2% 的目标表示欣慰。问题是多少。摩根大通基金（J.P. Morgan Funds）首席全球策略师大卫-凯利（David Kelly）表示，尽管联邦公开市场委员会（FOMC）可能会重申今年之后经济复苏将放缓，但新的预测可能会显示，2022 年和 2023 年的通胀率都将超过 2%，到 2023 年底失业率将达到 3.5%，从而满足美联储关于通胀率高于 2% 和 “最大就业 ”的标准。</blockquote></p><p> Some economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).</p><p><blockquote>然而，一些经济学家表示，美联储可能会更多地关注更广泛的失业率，即所谓的U-6失业率，其中包括沮丧的工人以及那些从事兼职工作但更愿意全职工作的工人等。鉴于 U-6 的比率（11.1%）远高于 “官方 ”U-3 的比率（6.2%），这将给政策制定者更多的喘息空间。</blockquote></p><p> Given the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.</p><p><blockquote>牛津经济研究院（Oxford Economics）的博斯特扬西奇（Bostjancic）表示，鉴于美联储的新政策框架将最大就业定义为 “基础广泛、包容性 ”就业，希望阻碍美联储下一次利率走势的投资者应关注 U-6 失业率。</blockquote></p><p> <b>The dot plot:</b>In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.</p><p><blockquote><b>点阵图：</b>12 月，提交预测的 17 名 FOMC 成员中只有 1 名成员预计到 2022 年底加息，5 名成员预计到 2023 年底加息。尽管一些经济学家表示，美联储官员可能对提高他们的点数或显得更加鹰派持谨慎态度，从而加剧正在进行的长期利率飙升，但其他人表示，美联储必须在其利率前景中表现出一些变化。</blockquote></p><p> “Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.</p><p><blockquote>“马尔科夫斯卡说：”鉴于预测可能修正的幅度，很难证明政策前景不改变是合理的。“不这样做将不符合数据依赖性，并将强烈表明美联储依赖于日历（美联储坚称它不是）。”她说，与此同时，美联储并没有反击最近对利率预期的重新定价，这是对已经定价的隐性认可。</blockquote></p><p> Bostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.</p><p><blockquote>Bostjancic 预计预测中值将显示 2023 年至少加息一次 0.25%，而 Markowska 则认为 2023 年 dot 中值可能会升至 0.375%（她指出，只有 4 名成员需要提高 dot，或在 2023 年底前发出更高预期联邦基金利率的信号），即可移动利率预测中值。债券市场已预计到 2023 年底将加息三个四分之一点。</blockquote></p><p></p><p> <b>Bond market action:</b>How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.</p><p><blockquote><b>债券市场行动：</b>国债市场对美联储新信息的反应至少与信息本身一样有趣。Bostjancic表示，即使美联储稍微提前加息预期，也可能刺激债券市场消化更多紧缩政策，而不是美联储在利率预期方面可能赶上市场已经处于的水平。</blockquote></p><p> Ian Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.</p><p><blockquote>BMO Capital 利率策略主管伊恩·林根 (Ian Lyngen) 表示，鲍威尔不太可能有意义地改变他对最近收益率行动的立场，他坚持认为，只要此举是由经济前景和通胀预期改善推动的，重新定价就是出于正确的原因。“他说：”不用说，更高的收益率是好事，直到它们不好，而这正是美联储面临的更大政策风险的拐点。</blockquote></p><p> Lyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.</p><p><blockquote>林根正在关注 10 年期国债 1.64% 的水平（这是上周的收益率峰值，也是该基准自 2020 年 2 月初以来的最高收益率），并将该票据的目标定为 1.75%。</blockquote></p><p> <b>SLR exemption extension:</b>Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.</p><p><blockquote><b>SLR豁免延期：</b>随着大流行病导致的停摆接踵而至，围绕美联储去年 4 月推出的一项广受欢迎的计划的任何信号都可能导致周三债券市场的走势。</blockquote></p><p> Wall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.</p><p><blockquote>华尔街希望延长美联储银行对国债和银行存款的临时豁免期限，该期限要求金融机构持有至少 3% 的最低资本比率，以其总杠杆敞口衡量。该豁免将于三月底到期。</blockquote></p><p> The exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.</p><p><blockquote>豁免的命运影响重大。Bostjancic 指出，过去一年，银行增加了 8,540 亿美元的国债购买量，而银行准备金则激增了 1.8 万亿美元。经济学家表示，缺乏延期可能会大大降低银行对美国国债的兴趣，从而给收益率带来更大的上行压力。</blockquote></p><p> <b>Further easing watch:</b>Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”</p><p><blockquote><b>进一步放松观察：</b>除非收益率出现更无序的飙升，金融状况有意义地收紧，否则华尔街普遍预计不会出现更多宽松政策。林根说，就目前而言，联邦公开市场委员会 “处于相当有利的位置，可以暂时坚持到底”，“即使这样的结果涉及在投资者谨慎甚至担忧的情况下，默许进一步抛售美国国债的风险”。</blockquote></p><p> As for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.</p><p><blockquote>至于对收益率无序飙升的潜在反应，经济学家表示，美联储有几个选择。Bostjancic 表示，最直接的是，美联储可能会选择延长当前资产购买的期限。她表示，截至 12 月，当前计划的平均期限为 7.4 年，并补充说政策制定者可以开始购买 10 至 30 年期国债。Bostjancic 说，这样做实际上将是新的 “扭曲行动 ”的一部分，另一部分涉及出售短期国库券。</blockquote></p><p> If financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.</p><p><blockquote>Bostjancic和其他人表示，如果金融状况进一步收紧，并且在收益率曲线上进一步买入被证明是不够的，美联储可能会尝试控制收益率曲线。</blockquote></p><p> YCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.</p><p><blockquote>YCC由美联储在二战后、日本央行在2016年和澳大利亚储备银行在2020年实施，旨在控制收益率曲线的某些部分的利率，通过对特定期限施加利率上限来直接瞄准长期利率。正如圣路易斯联储的经济学家所说，由于债券价格和收益率成反比关系，这也意味着目标期限的价格下限：如果目标期限的债券价格（收益率）保持在下限之上（低于），央行什么也不做。但如果价格跌至（上涨）下限以下（高于），央行就会购买目标期限债券——增加需求，从而提高这些债券的价格。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Easy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEasy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-17 10:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.</p><p><blockquote>美联储本周采取了一个尴尬的平衡行动：它很可能会立即发布更乐观的经济预测，同时试图向投资者保证，美联储仍然 “没有考虑 ”加息，而且也不需要加息。</blockquote></p><p> More-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.</p><p><blockquote>对国内生产总值、失业率和通货膨胀的更乐观的估计通常会促使人们承认货币政策将反过来开始收紧。对于依赖数据的美联储来说，经济改善速度远超预期的信息与利率将在 2023 年之前保持接近于零的信息不一致。随着投资者对新的经济预测、显示最新利率预测的点阵图以及主席杰罗姆-鲍威尔（Jerome Powell）的新闻发布会的关注，美联储的政策机构联邦公开市场委员会将如何试图平衡这些相互矛盾的动态。</blockquote></p><p> “It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”</p><p><blockquote>“牛津经济研究院（Oxford Economics）首席美国金融经济学家凯西-博斯特扬西奇（Kathy Bostjancic）说：”这对他们来说是一条微妙的路线，因为在经济数据改善、Covid-19 疫苗接种和通胀担忧加剧的情况下，债券市场价格进一步收紧，而美联储则重申了其鸽派立场。“你如何在传达你不会落后于时代的同时传达耐心？”</blockquote></p><p> The rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.</p><p><blockquote>费率决定和更新材料将于本周三下午2点发布东部时间，鲍威尔将进行问答环节。以下是华尔街正在关注的内容。</blockquote></p><p> <b>Updated economic forecasts:</b>In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.</p><p><blockquote><b>更新的经济预测：</b>在 12 月份的经济预测摘要中，FOMC 预计 2021 年 GDP 增长率为 4.2%，2022 年为 3.2%，到 2023 年底通胀预期将达到 2%，从而意味着利率将在 2024 年开始上升。</blockquote></p><p> Aneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)</p><p><blockquote>Jefferies首席经济学家Aneta Markowska认为，FOMC将把未来两年的GDP预测分别上调至6%和4%左右。她表示，到 2022 年下半年，这应该会将失业率推至自然率以下（在通胀保持稳定的情况下，一个经济体可以维持的最低失业率），这意味着 2% 的通胀预测将被提前至 2022 年底——因此，第一次加息被提前至 2023 年。（12月，美联储预计今年年底通胀率为1.8%。）</blockquote></p><p> Fed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.</p><p><blockquote>美联储官员对让通胀率高于 2% 的目标表示欣慰。问题是多少。摩根大通基金（J.P. Morgan Funds）首席全球策略师大卫-凯利（David Kelly）表示，尽管联邦公开市场委员会（FOMC）可能会重申今年之后经济复苏将放缓，但新的预测可能会显示，2022 年和 2023 年的通胀率都将超过 2%，到 2023 年底失业率将达到 3.5%，从而满足美联储关于通胀率高于 2% 和 “最大就业 ”的标准。</blockquote></p><p> Some economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).</p><p><blockquote>然而，一些经济学家表示，美联储可能会更多地关注更广泛的失业率，即所谓的U-6失业率，其中包括沮丧的工人以及那些从事兼职工作但更愿意全职工作的工人等。鉴于 U-6 的比率（11.1%）远高于 “官方 ”U-3 的比率（6.2%），这将给政策制定者更多的喘息空间。</blockquote></p><p> Given the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.</p><p><blockquote>牛津经济研究院（Oxford Economics）的博斯特扬西奇（Bostjancic）表示，鉴于美联储的新政策框架将最大就业定义为 “基础广泛、包容性 ”就业，希望阻碍美联储下一次利率走势的投资者应关注 U-6 失业率。</blockquote></p><p> <b>The dot plot:</b>In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.</p><p><blockquote><b>点阵图：</b>12 月，提交预测的 17 名 FOMC 成员中只有 1 名成员预计到 2022 年底加息，5 名成员预计到 2023 年底加息。尽管一些经济学家表示，美联储官员可能对提高他们的点数或显得更加鹰派持谨慎态度，从而加剧正在进行的长期利率飙升，但其他人表示，美联储必须在其利率前景中表现出一些变化。</blockquote></p><p> “Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.</p><p><blockquote>“马尔科夫斯卡说：”鉴于预测可能修正的幅度，很难证明政策前景不改变是合理的。“不这样做将不符合数据依赖性，并将强烈表明美联储依赖于日历（美联储坚称它不是）。”她说，与此同时，美联储并没有反击最近对利率预期的重新定价，这是对已经定价的隐性认可。</blockquote></p><p> Bostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.</p><p><blockquote>Bostjancic 预计预测中值将显示 2023 年至少加息一次 0.25%，而 Markowska 则认为 2023 年 dot 中值可能会升至 0.375%（她指出，只有 4 名成员需要提高 dot，或在 2023 年底前发出更高预期联邦基金利率的信号），即可移动利率预测中值。债券市场已预计到 2023 年底将加息三个四分之一点。</blockquote></p><p></p><p> <b>Bond market action:</b>How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.</p><p><blockquote><b>债券市场行动：</b>国债市场对美联储新信息的反应至少与信息本身一样有趣。Bostjancic表示，即使美联储稍微提前加息预期，也可能刺激债券市场消化更多紧缩政策，而不是美联储在利率预期方面可能赶上市场已经处于的水平。</blockquote></p><p> Ian Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.</p><p><blockquote>BMO Capital 利率策略主管伊恩·林根 (Ian Lyngen) 表示，鲍威尔不太可能有意义地改变他对最近收益率行动的立场，他坚持认为，只要此举是由经济前景和通胀预期改善推动的，重新定价就是出于正确的原因。“他说：”不用说，更高的收益率是好事，直到它们不好，而这正是美联储面临的更大政策风险的拐点。</blockquote></p><p> Lyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.</p><p><blockquote>林根正在关注 10 年期国债 1.64% 的水平（这是上周的收益率峰值，也是该基准自 2020 年 2 月初以来的最高收益率），并将该票据的目标定为 1.75%。</blockquote></p><p> <b>SLR exemption extension:</b>Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.</p><p><blockquote><b>SLR豁免延期：</b>随着大流行病导致的停摆接踵而至，围绕美联储去年 4 月推出的一项广受欢迎的计划的任何信号都可能导致周三债券市场的走势。</blockquote></p><p> Wall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.</p><p><blockquote>华尔街希望延长美联储银行对国债和银行存款的临时豁免期限，该期限要求金融机构持有至少 3% 的最低资本比率，以其总杠杆敞口衡量。该豁免将于三月底到期。</blockquote></p><p> The exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.</p><p><blockquote>豁免的命运影响重大。Bostjancic 指出，过去一年，银行增加了 8,540 亿美元的国债购买量，而银行准备金则激增了 1.8 万亿美元。经济学家表示，缺乏延期可能会大大降低银行对美国国债的兴趣，从而给收益率带来更大的上行压力。</blockquote></p><p> <b>Further easing watch:</b>Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”</p><p><blockquote><b>进一步放松观察：</b>除非收益率出现更无序的飙升，金融状况有意义地收紧，否则华尔街普遍预计不会出现更多宽松政策。林根说，就目前而言，联邦公开市场委员会 “处于相当有利的位置，可以暂时坚持到底”，“即使这样的结果涉及在投资者谨慎甚至担忧的情况下，默许进一步抛售美国国债的风险”。</blockquote></p><p> As for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.</p><p><blockquote>至于对收益率无序飙升的潜在反应，经济学家表示，美联储有几个选择。Bostjancic 表示，最直接的是，美联储可能会选择延长当前资产购买的期限。她表示，截至 12 月，当前计划的平均期限为 7.4 年，并补充说政策制定者可以开始购买 10 至 30 年期国债。Bostjancic 说，这样做实际上将是新的 “扭曲行动 ”的一部分，另一部分涉及出售短期国库券。</blockquote></p><p> If financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.</p><p><blockquote>Bostjancic和其他人表示，如果金融状况进一步收紧，并且在收益率曲线上进一步买入被证明是不够的，美联储可能会尝试控制收益率曲线。</blockquote></p><p> YCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.</p><p><blockquote>YCC由美联储在二战后、日本央行在2016年和澳大利亚储备银行在2020年实施，旨在控制收益率曲线的某些部分的利率，通过对特定期限施加利率上限来直接瞄准长期利率。正如圣路易斯联储的经济学家所说，由于债券价格和收益率成反比关系，这也意味着目标期限的价格下限：如果目标期限的债券价格（收益率）保持在下限之上（低于），央行什么也不做。但如果价格跌至（上涨）下限以下（高于），央行就会购买目标期限债券——增加需求，从而提高这些债券的价格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/easy-money-the-dot-plot-and-the-feds-dilemma-an-investor-guide-to-a-key-meeting-51615905001?mod=hp_LEAD_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/easy-money-the-dot-plot-and-the-feds-dilemma-an-investor-guide-to-a-key-meeting-51615905001?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103121082","content_text":"The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.\nMore-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.\n“It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”\nThe rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.\nUpdated economic forecasts:In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.\nAneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)\nFed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.\nSome economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).\nGiven the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.\nThe dot plot:In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.\n“Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.\nBostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.\nBond market action:How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.\nIan Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.\nLyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.\nSLR exemption extension:Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.\nWall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.\nThe exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.\nFurther easing watch:Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”\nAs for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.\nIf financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.\nYCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326547410,"gmtCreate":1615691091030,"gmtModify":1703492113003,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326547410","repostId":"1100128328","repostType":4,"repost":{"id":"1100128328","kind":"news","pubTimestamp":1615563404,"share":"https://www.laohunote.com/m/news/1100128328?lang=zh_CN&edition=full","pubTime":"2021-03-12 23:36","market":"us","language":"en","title":"Tesla Stock Is Down. You Could Blame Joe Biden.<blockquote>特斯拉股价下跌。你可以责怪乔·拜登。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100128328","media":"Barrons","summary":"Stock inTesla is lower after CNBC reported that the electric-vehicle company had a firein its Fremon","content":"<p>Stock inTesla&nbsp;is lower after CNBC reported that the&nbsp;electric-vehicle&nbsp;company&nbsp;had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.</p><p><blockquote>CNBC 报道电动汽车公司特斯拉在加利福尼亚州弗里蒙特发生火灾后，该公司股价下跌。植物，但大火可能不是浸泡的原因。</blockquote></p><p>Fires are just a normal, albeit unfortunate, operating problem for any manufacturer. Tesla (ticker: TSLA) didn’t immediately respond to a request for comment about the fire or the damage it may have caused.</p><p><blockquote>对于任何制造商来说，火灾都是一个正常的、尽管不幸的运营问题。特斯拉（股票代码：TSLA）没有立即回应就火灾或其可能造成的损失发表评论的请求。</blockquote></p><p>President Joe Biden is probably responsible for the share-price decline, which left the stock about 2.7% lower in premarket trading, at about $680. It has beena wild weekfor Tesla stockholders. Shares started off the week at about $675,traded above $700and fell to about $560 before bounding back, up 4.7% Thursday, to just under $700.</p><p><blockquote>乔·拜登总统可能是股价下跌的原因，该股在盘前交易中下跌约 2.7%，至 680 美元左右。对于特斯拉股东来说，这是疯狂的一周。本周股价开盘约为 675 美元，交易价格高于 700 美元，随后跌至 560 美元左右，周四反弹，上涨 4.7%，略低于 700 美元。</blockquote></p><p>Nothing Tesla has done appears to be the reason for the recent volatility. It’s all about interest rates.</p><p><blockquote>特斯拉没有做任何事情似乎都不是最近波动的原因。一切都与利率有关。</blockquote></p><p>That is where the president comes into the picture. Thursday evening, he addressed the nation, focusing on putting Covid-19 in the rearview mirror a year after the World Health Organization declared that a pandemic had begun.</p><p><blockquote>这就是总统发挥作用的地方。周四晚上，他向全国发表讲话，重点是在世界卫生组织宣布疫情已经开始一年后将 Covid-19 置于后视镜中。</blockquote></p><p>“All adult Americans will be eligible to get a vaccine no later than May 1,” said the president, adding the federal government is setting up hundreds of vaccination sites and procuring millions more vaccine doses.</p><p><blockquote>总统说：“所有美国成年人最迟将有资格在 5 月 1 日接种疫苗，”他补充说，联邦政府正在建立数百个疫苗接种点，并采购数百万剂疫苗。</blockquote></p><p>It’s good news, but the market is selling off Friday morning. For stocks, the speech represents almost too much of a good thing. The economy is reopening and, as a result,bond yields are rising, putting pressure on high-growth stocks.</p><p><blockquote>这是个好消息，但周五上午市场正在抛售。对于股市来说，这次演讲几乎代表了太多的好事。经济正在重新开放，因此债券收益率正在上升，给高增长股票带来压力。</blockquote></p><p>Futures on the&nbsp;Nasdaq Composite&nbsp;Index, home to many highflying tech stocks, are down 1.6%.Dow Jones Industrial Averagefutures, on the other hand, are flat.</p><p><blockquote>许多飞速科技股的所在地纳斯达克综合指数期货下跌 1.6%。另一方面，道琼斯工业平均指数期货持平。</blockquote></p><p>Higher yields hurt richly valued, fast-growing companies more than others for a couple of reasons. One, they makes funding growth more expensive. Two, high- growth companies are expected generate most of their cash far in the future. That cash is a little less valuable in present terms when rates are high, compared with when rates are low. In a higher-rate environment, investors have more options to earn interest today, which puts pressure on high-growth stocks’ valuations.</p><p><blockquote>较高的收益率对高估值、快速增长的公司的伤害比其他公司更大，原因有几个。第一，它们使融资增长更加昂贵。第二，高增长公司预计将在未来很长一段时间内产生大部分现金。与利率低时相比，利率高时，现金的价值在目前来看略低。在利率上升的环境下，投资者现在有更多赚取利息的选择，这给高增长股票的估值带来了压力。</blockquote></p><p>A Friday dip, however,doesn’t mean the end&nbsp;of the bull market in Tesla, EV stocks or the Nasdaq. Getting the economy back on its feet is a good thing. Investors just need a chance to adjust to the changing landscape.</p><p><blockquote>然而，周五的下跌并不意味着特斯拉、电动汽车股或纳斯达克牛市的结束。让经济恢复正常是一件好事。投资者只是需要一个机会来适应不断变化的环境。</blockquote></p><p>“There’s a good chance you, your families and friends will be able to get together in your backyard or in your neighborhood and have a cookout …and celebrate Independence Day,” Biden said. That is great news.</p><p><blockquote>“拜登说：”你、你的家人和朋友很有可能能在你的后院或社区聚在一起，野餐.庆祝独立日。这是个好消息。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is Down. You Could Blame Joe Biden.<blockquote>特斯拉股价下跌。你可以责怪乔·拜登。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is Down. You Could Blame Joe Biden.<blockquote>特斯拉股价下跌。你可以责怪乔·拜登。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-12 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock inTesla&nbsp;is lower after CNBC reported that the&nbsp;electric-vehicle&nbsp;company&nbsp;had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.</p><p><blockquote>CNBC 报道电动汽车公司特斯拉在加利福尼亚州弗里蒙特发生火灾后，该公司股价下跌。植物，但大火可能不是浸泡的原因。</blockquote></p><p>Fires are just a normal, albeit unfortunate, operating problem for any manufacturer. Tesla (ticker: TSLA) didn’t immediately respond to a request for comment about the fire or the damage it may have caused.</p><p><blockquote>对于任何制造商来说，火灾都是一个正常的、尽管不幸的运营问题。特斯拉（股票代码：TSLA）没有立即回应就火灾或其可能造成的损失发表评论的请求。</blockquote></p><p>President Joe Biden is probably responsible for the share-price decline, which left the stock about 2.7% lower in premarket trading, at about $680. It has beena wild weekfor Tesla stockholders. Shares started off the week at about $675,traded above $700and fell to about $560 before bounding back, up 4.7% Thursday, to just under $700.</p><p><blockquote>乔·拜登总统可能是股价下跌的原因，该股在盘前交易中下跌约 2.7%，至 680 美元左右。对于特斯拉股东来说，这是疯狂的一周。本周股价开盘约为 675 美元，交易价格高于 700 美元，随后跌至 560 美元左右，周四反弹，上涨 4.7%，略低于 700 美元。</blockquote></p><p>Nothing Tesla has done appears to be the reason for the recent volatility. It’s all about interest rates.</p><p><blockquote>特斯拉没有做任何事情似乎都不是最近波动的原因。一切都与利率有关。</blockquote></p><p>That is where the president comes into the picture. Thursday evening, he addressed the nation, focusing on putting Covid-19 in the rearview mirror a year after the World Health Organization declared that a pandemic had begun.</p><p><blockquote>这就是总统发挥作用的地方。周四晚上，他向全国发表讲话，重点是在世界卫生组织宣布疫情已经开始一年后将 Covid-19 置于后视镜中。</blockquote></p><p>“All adult Americans will be eligible to get a vaccine no later than May 1,” said the president, adding the federal government is setting up hundreds of vaccination sites and procuring millions more vaccine doses.</p><p><blockquote>总统说：“所有美国成年人最迟将有资格在 5 月 1 日接种疫苗，”他补充说，联邦政府正在建立数百个疫苗接种点，并采购数百万剂疫苗。</blockquote></p><p>It’s good news, but the market is selling off Friday morning. For stocks, the speech represents almost too much of a good thing. The economy is reopening and, as a result,bond yields are rising, putting pressure on high-growth stocks.</p><p><blockquote>这是个好消息，但周五上午市场正在抛售。对于股市来说，这次演讲几乎代表了太多的好事。经济正在重新开放，因此债券收益率正在上升，给高增长股票带来压力。</blockquote></p><p>Futures on the&nbsp;Nasdaq Composite&nbsp;Index, home to many highflying tech stocks, are down 1.6%.Dow Jones Industrial Averagefutures, on the other hand, are flat.</p><p><blockquote>许多飞速科技股的所在地纳斯达克综合指数期货下跌 1.6%。另一方面，道琼斯工业平均指数期货持平。</blockquote></p><p>Higher yields hurt richly valued, fast-growing companies more than others for a couple of reasons. One, they makes funding growth more expensive. Two, high- growth companies are expected generate most of their cash far in the future. That cash is a little less valuable in present terms when rates are high, compared with when rates are low. In a higher-rate environment, investors have more options to earn interest today, which puts pressure on high-growth stocks’ valuations.</p><p><blockquote>较高的收益率对高估值、快速增长的公司的伤害比其他公司更大，原因有几个。第一，它们使融资增长更加昂贵。第二，高增长公司预计将在未来很长一段时间内产生大部分现金。与利率低时相比，利率高时，现金的价值在目前来看略低。在利率上升的环境下，投资者现在有更多赚取利息的选择，这给高增长股票的估值带来了压力。</blockquote></p><p>A Friday dip, however,doesn’t mean the end&nbsp;of the bull market in Tesla, EV stocks or the Nasdaq. Getting the economy back on its feet is a good thing. Investors just need a chance to adjust to the changing landscape.</p><p><blockquote>然而，周五的下跌并不意味着特斯拉、电动汽车股或纳斯达克牛市的结束。让经济恢复正常是一件好事。投资者只是需要一个机会来适应不断变化的环境。</blockquote></p><p>“There’s a good chance you, your families and friends will be able to get together in your backyard or in your neighborhood and have a cookout …and celebrate Independence Day,” Biden said. That is great news.</p><p><blockquote>“拜登说：”你、你的家人和朋友很有可能能在你的后院或社区聚在一起，野餐.庆祝独立日。这是个好消息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-down-you-could-blame-joe-biden-51615557806?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-down-you-could-blame-joe-biden-51615557806?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100128328","content_text":"Stock inTesla is lower after CNBC reported that the electric-vehicle company had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.Fires are just a normal, albeit unfortunate, operating problem for any manufacturer. Tesla (ticker: TSLA) didn’t immediately respond to a request for comment about the fire or the damage it may have caused.President Joe Biden is probably responsible for the share-price decline, which left the stock about 2.7% lower in premarket trading, at about $680. It has beena wild weekfor Tesla stockholders. Shares started off the week at about $675,traded above $700and fell to about $560 before bounding back, up 4.7% Thursday, to just under $700.Nothing Tesla has done appears to be the reason for the recent volatility. It’s all about interest rates.That is where the president comes into the picture. Thursday evening, he addressed the nation, focusing on putting Covid-19 in the rearview mirror a year after the World Health Organization declared that a pandemic had begun.“All adult Americans will be eligible to get a vaccine no later than May 1,” said the president, adding the federal government is setting up hundreds of vaccination sites and procuring millions more vaccine doses.It’s good news, but the market is selling off Friday morning. For stocks, the speech represents almost too much of a good thing. The economy is reopening and, as a result,bond yields are rising, putting pressure on high-growth stocks.Futures on the Nasdaq Composite Index, home to many highflying tech stocks, are down 1.6%.Dow Jones Industrial Averagefutures, on the other hand, are flat.Higher yields hurt richly valued, fast-growing companies more than others for a couple of reasons. One, they makes funding growth more expensive. Two, high- growth companies are expected generate most of their cash far in the future. That cash is a little less valuable in present terms when rates are high, compared with when rates are low. In a higher-rate environment, investors have more options to earn interest today, which puts pressure on high-growth stocks’ valuations.A Friday dip, however,doesn’t mean the end of the bull market in Tesla, EV stocks or the Nasdaq. Getting the economy back on its feet is a good thing. Investors just need a chance to adjust to the changing landscape.“There’s a good chance you, your families and friends will be able to get together in your backyard or in your neighborhood and have a cookout …and celebrate Independence Day,” Biden said. That is great news.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328214180,"gmtCreate":1615529422040,"gmtModify":1703490493903,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Hkd&nbsp;","listText":"Hkd&nbsp;","text":"Hkd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328214180","repostId":"2118242934","repostType":4,"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328215031,"gmtCreate":1615529294123,"gmtModify":1703490491835,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"That's great&nbsp;","listText":"That's great&nbsp;","text":"That's great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328215031","repostId":"1144029837","repostType":4,"repost":{"id":"1144029837","kind":"news","pubTimestamp":1615513990,"share":"https://www.laohunote.com/m/news/1144029837?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:53","market":"sg","language":"en","title":"The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144029837","media":"Nasdaq","summary":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQIN","content":"<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MELI":"MercadoLibre","OKTA":"Okta Inc.","PYPL":"PayPal"},"source_url":"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144029837","content_text":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares ofMercadoLibre(NASDAQ: MELI),Okta(NASDAQ: OKTA), andPayPal Holdings(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.MercadoLibre's back in businessLess than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.Investors might like Okta's big buy after allShares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.Paying the piperLastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only one in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.Ride the waveVolatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.","news_type":1,"symbols_score_info":{"MELI":0.9,"OKTA":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":531,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328212219,"gmtCreate":1615529248531,"gmtModify":1703490491141,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Noted&nbsp;","listText":"Noted&nbsp;","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328212219","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://www.laohunote.com/m/news/1199156489?lang=zh_CN&edition=full","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time<blockquote>美国夏令时</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Daylight Saving Time<blockquote>美国夏令时</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Daylight Saving Time<blockquote>美国夏令时</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-11 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328212113,"gmtCreate":1615529226032,"gmtModify":1703490490453,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578401675475466","authorIdStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Ntd","listText":"Ntd","text":"Ntd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328212113","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://www.laohunote.com/m/news/1199156489?lang=zh_CN&edition=full","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time<blockquote>美国夏令时</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Daylight Saving Time<blockquote>美国夏令时</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Daylight Saving Time<blockquote>美国夏令时</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-11 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":359388862,"gmtCreate":1616343942456,"gmtModify":1634526284772,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359388862","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohunote.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327014281,"gmtCreate":1616038758743,"gmtModify":1703496731326,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"To the moon&nbsp;","listText":"To the moon&nbsp;","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327014281","repostId":"1129519091","repostType":4,"isVote":1,"tweetType":1,"viewCount":2291,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196870687,"gmtCreate":1621044854149,"gmtModify":1634194341085,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Covid","listText":"Covid","text":"Covid","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/196870687","repostId":"1185220705","repostType":4,"isVote":1,"tweetType":1,"viewCount":2774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348586950,"gmtCreate":1617941599371,"gmtModify":1634295616670,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Like and comment thank you&nbsp;","listText":"Like and comment thank you&nbsp;","text":"Like and comment thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/348586950","repostId":"1188479830","repostType":4,"isVote":1,"tweetType":1,"viewCount":3530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324310166,"gmtCreate":1615962131155,"gmtModify":1703495578048,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"H7pl","listText":"H7pl","text":"H7pl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324310166","repostId":"1127014629","repostType":4,"isVote":1,"tweetType":1,"viewCount":3256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350099136,"gmtCreate":1616133622425,"gmtModify":1634527061349,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Match","listText":"Match","text":"Match","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350099136","repostId":"1133615560","repostType":4,"repost":{"id":"1133615560","kind":"news","pubTimestamp":1616132176,"share":"https://www.laohunote.com/m/news/1133615560?lang=zh_CN&edition=full","pubTime":"2021-03-19 13:36","market":"us","language":"en","title":"Six ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133615560","media":"MarketWatch","summary":"Executives are snapping up shares of their own companies, which is typically a bullish sign.\nWith va","content":"<p>Executives are snapping up shares of their own companies, which is typically a bullish sign.</p><p><blockquote>高管们正在抢购自己公司的股票，这通常是一个看涨的迹象。</blockquote></p><p> With vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.</p><p><blockquote>随着疫苗的推广和个人储蓄屡创新高，股市的 “重新开放 ”风靡一时。甚至吉姆·克莱默也加入了进来。</blockquote></p><p> As a contrarian, I’ve been suggesting reopening plays in&nbsp;this column&nbsp;and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.</p><p><blockquote>作为一名反向投资者，一年多来，我一直在本专栏和我的股票信中建议重新开盘（链接在下面的简历中）。在许多情况下，它们的数量翻了一番，甚至更多。现在看到人群进来让我很紧张。这往往是一个主题走到最后的标志。</blockquote></p><p> Wait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.</p><p><blockquote>等等，重新开放的主题怎么会在重新开放发生之前就花掉呢？这很简单。通常提前六个月营销价格事件。</blockquote></p><p> But I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.</p><p><blockquote>但我认为这个还有更多的事情要做，原因很简单。我密切关注企业内部人士，在过去的几周里，他们一直是约会、旅游和零售领域典型重新开放游戏的巨大买家。</blockquote></p><p> Here’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.</p><p><blockquote>以下是购买情况的综述，告诉我这个主题还有发展空间。内部买入还表明这六只股票可能会延长其优异表现。</blockquote></p><p> <b>Dating is making a comeback</b></p><p><blockquote><b>约会正在卷土重来</b></blockquote></p><p> Millions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.</p><p><blockquote>由于担心感染 Covid-19，数百万人减少了约会。这将在重新开业期间发生巨大变化，为约会应用公司 Bumble 提供推动力。</blockquote></p><p> We’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.</p><p><blockquote>我们已经看到了单身人士真正想要交往的早期迹象--而且不仅仅是在佛罗里达州的大型春假聚会上。受第二和第三季度 Covid-19 担忧高峰的拖累，Bumble 第四季度收入增长了 31%，而 2020 年全年增长较为缓慢的 10%。第四季度，为高级版本服务付费的用户增长了 32.5%，而全年增长了 22.2%。</blockquote></p><p> Bumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).</p><p><blockquote>Bumble是一款约会应用，它有一个转折，那就是只有女性才能在双方都表示有兴趣后，通过在个人资料上向右滑动来发起联系。该公司的 Bumble 和 Badoo 应用程序上的高级功能允许用户看到谁在他们身上滑动，发布更多个人信息，并突出个人资料。根据发表在《美国国家科学院院刊》（PNAS）上的一项研究，在线约会应用程序现在是美国新婚夫妇见面的最常见方式。</blockquote></p><p> Director Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd&nbsp;bought $21 million worth at $43.</p><p><blockquote>2月中旬，Bumble上市时，董事帕梅拉·托马斯-格雷厄姆（Pamela Thomas-Graham）以76.23美元的价格购买了价值49.8万美元的股票，首席执行官惠特尼·沃尔夫·赫德（Whitney Wolfe Herd）以43美元的价格购买了价值2100万美元的股票。</blockquote></p><p> <b>Wanderlust returns</b></p><p><blockquote><b>旅行癖回归</b></blockquote></p><p> I’ve been suggesting Avis Budget Group&nbsp;in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.&nbsp; It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.</p><p><blockquote>自从去年 10 月初 Avis Budget Group 的交易价格为 31 美元以来，我就一直在我的股票信中推荐它。现在价格上涨了 122%，达到 69 美元，但我最近建议用户继续持有。是的，疫情压垮了租金。但是人们真的很想出去旅行。所以这家公司的生意今年真的会好转。Avis经营着Budget和Zipcar租赁品牌，是一家航空旅行公司。它在北美、欧洲和澳大拉西亚的机场拥有巨大的影响力。Avis拥有超过10,600个租赁地点。</blockquote></p><p> Avis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.</p><p><blockquote>安飞士在疫情期间削减了19%的机队，在降低成本方面做了值得称赞的工作。因此，尽管收入下降了 41%，但这并不是破产风险。</blockquote></p><p> The big buyer who first got me interested in this stock was director Karthik&nbsp;Sarma. His SRS&nbsp;Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.</p><p><blockquote>第一个让我对这只股票感兴趣的大买家是导演卡尔西克·萨尔马。他的 SRS Investment Management 去年 5 月至 12 月以 18.57 美元至 39.20 美元的价格稳步买入。Avis 目前占他投资组合的 11.4%。最近，首席财务官 Brian Choi 接任大买家，于 2 月份以每股 46-56 美元的价格购买了价值 164 万美元的股票。业内人士不会在短期交易中买入，因此这次买入--再加上即将重新开放的旅游热潮--告诉我，该股仍需持有。</blockquote></p><p> <b>Fast-food binge</b></p><p><blockquote><b>快餐狂欢</b></blockquote></p><p> As the second-largest fast-food burger chain in the U.S., Wendy’s&nbsp;will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.</p><p><blockquote>作为美国第二大快餐汉堡连锁店，Wendy's 的销售额将随着消费者走出隐秘状态而大幅提升。当然，温迪的数字业务在大流行病期间表现强劲。但首席执行官托德-佩内戈尔（Todd Penegor）表示，客流量的改善仍将推动这家以具有竞争力的价格专营 “新鲜且令人垂涎 ”食品的连锁店的销售额。</blockquote></p><p> From small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.</p><p><blockquote>Wendy's 于 1969 年在俄亥俄州哥伦布市成立，现已发展成为全球第三大汉堡连锁店，拥有 6800 多家餐厅。其中大部分是特许经营，这提高了利润率。尽管大流行病肆虐，温迪餐厅去年还是开设了 35 家餐厅，没有关门。这一数字低于 2019 年的 77 个净开业数。但它将在 2021 年弥补失地，净增约 170 家新餐厅，使餐厅总数超过 7000 家。</blockquote></p><p> Last year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.</p><p><blockquote>去年，Wendy 的新早餐菜单大受欢迎，预计这将在 2021 年再次成为增长动力。该公司预计早餐业务今年将增长 30%，到 2022 年底将达到总销售额的 10%，高于去年的 7%。</blockquote></p><p> Wendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.</p><p><blockquote>Wendy's 预计今年同店销售额将增长 10%，推动每股收益增长 19%，达到 0.67 美元至 0.69 美元，运营现金流增长 12.5%，达到指导中点 3.2 亿美元。</blockquote></p><p></p><p> All of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.</p><p><blockquote>所有这些无疑有助于解释为什么首席法律官E.J。Wunsch 最近以 18.98 美元的价格购买了价值 142,300 美元的股票。</blockquote></p><p> <b>The h</b><b>ousing boom isn’t over yet</b></p><p><blockquote><b>h</b><b>唤醒热潮尚未结束</b></blockquote></p><p> With interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair&nbsp;and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)</p><p><blockquote>根据最近另一个流行的迷因，随着利率上升，房地产行业应该会降温。但业内人士不同意。最近，两家最大的家居相关零售商 Wayfair 和 Lowe's 发生了大量内幕交易。当然，有一些公司趋势有助于解释这一点。但由于股票三分之一的变动通常来自行业表现，因此这也是对房地产趋势的一种说明。（其他三分之二的股票走势来自公司趋势和整体股票市场趋势。）</blockquote></p><p> Here’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.</p><p><blockquote>以下是 30 年期抵押贷款利率。如您所见，与历史平均水平相比，这一数字仍然很低。</blockquote></p><p> The bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.</p><p><blockquote>Leuthold group 市场策略师吉姆·保尔森 (Jim Paulsen) 指出，这种看涨情绪是有道理的，因为抵押贷款利率仍处于历史低位。这意味着人们对购房和相关零售商的持续兴趣。</blockquote></p><p> Insiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin&nbsp;at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.</p><p><blockquote>业内人士当然认同这种想法。最近，首席执行官迈克尔·安德鲁·库明 (Michael Andrew Kumin) 以每股约 287 美元的价格购买了家居零售商 Wayfair 价值 1360 万美元的股票。Wayfair在与消费者的联系方面做得很好。去年美国销售额增长了 55%，海外销售额增长了 65%。第四季度客户数量增长 54%，达到 3120 万。重复采购占其业务的70%以上。Wayfair还与供应商密切合作，帮助他们进行物流、销售和营销，让他们满意。</blockquote></p><p> At Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.</p><p><blockquote>在 Lowe's，董事 David Batchelder 最近以 159.47 美元的价格购买了价值约 100 万美元的股票。劳氏是仅次于家得宝（Home Depot）的全球第二大家装零售商，自首席执行官马文-埃里森（Marvin Ellison）于2018年接任并引入新团队以来，劳氏一直在提高利润率、商品销售和库存。但收益还没有结束。该公司表示，2021 年营业利润率将超过 11%，最终达到 13%，而 2019 年为 9%。</blockquote></p><p> <b>The big get bigger</b></p><p><blockquote><b>大的变大</b></blockquote></p><p> As the nation’s largest retailer, Walmart&nbsp;stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&amp;T&nbsp;CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.</p><p><blockquote>作为美国最大的零售商，沃尔玛将从重新开业中受益，随着消费者信心增强，所有被压抑的需求都将被释放出来，消费者将从创纪录的高储蓄中获益。这有助于解释为什么沃尔玛董事、美国电话电报公司前首席执行官兰德尔-斯蒂芬森（Randall Stephenson）最近以 129.63 美元的价格向这家零售商的股票投入了 100 万美元。</blockquote></p><p> Walmart is also investing heavily in automation, which should improve productivity and profit margins.</p><p><blockquote>沃尔玛还在自动化方面投入巨资，这应该会提高生产率和利润率。</blockquote></p><p> Morningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.</p><p><blockquote>晨星分析师 Zain Akbari 预测今年以及未来十年的销售额增长将达到低个位数。</blockquote></p><p> Walmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.</p><p><blockquote>阿克巴里说，沃尔玛规模如此之大，以至于它与供应商谈判有利条件，以保持竞争力，从而支持零售商的广泛护城河。如果全国每小时 15 美元的最低工资标准获得通过，对沃尔玛来说也不会是毁灭性的。平均而言，它支付给销售助理的工资已经超过了这个数字。沃尔玛为投资者提供 1.6% 的股息收益率。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Six ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSix ‘reopening’ stocks, including Bumble and Wayfair, that company insiders absolutely love<blockquote>公司内部人士绝对喜爱的 Bumble 和 Wayfair 等六只 “重新开盘 ”股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-19 13:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Executives are snapping up shares of their own companies, which is typically a bullish sign.</p><p><blockquote>高管们正在抢购自己公司的股票，这通常是一个看涨的迹象。</blockquote></p><p> With vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.</p><p><blockquote>随着疫苗的推广和个人储蓄屡创新高，股市的 “重新开放 ”风靡一时。甚至吉姆·克莱默也加入了进来。</blockquote></p><p> As a contrarian, I’ve been suggesting reopening plays in&nbsp;this column&nbsp;and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.</p><p><blockquote>作为一名反向投资者，一年多来，我一直在本专栏和我的股票信中建议重新开盘（链接在下面的简历中）。在许多情况下，它们的数量翻了一番，甚至更多。现在看到人群进来让我很紧张。这往往是一个主题走到最后的标志。</blockquote></p><p> Wait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.</p><p><blockquote>等等，重新开放的主题怎么会在重新开放发生之前就花掉呢？这很简单。通常提前六个月营销价格事件。</blockquote></p><p> But I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.</p><p><blockquote>但我认为这个还有更多的事情要做，原因很简单。我密切关注企业内部人士，在过去的几周里，他们一直是约会、旅游和零售领域典型重新开放游戏的巨大买家。</blockquote></p><p> Here’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.</p><p><blockquote>以下是购买情况的综述，告诉我这个主题还有发展空间。内部买入还表明这六只股票可能会延长其优异表现。</blockquote></p><p> <b>Dating is making a comeback</b></p><p><blockquote><b>约会正在卷土重来</b></blockquote></p><p> Millions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.</p><p><blockquote>由于担心感染 Covid-19，数百万人减少了约会。这将在重新开业期间发生巨大变化，为约会应用公司 Bumble 提供推动力。</blockquote></p><p> We’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.</p><p><blockquote>我们已经看到了单身人士真正想要交往的早期迹象--而且不仅仅是在佛罗里达州的大型春假聚会上。受第二和第三季度 Covid-19 担忧高峰的拖累，Bumble 第四季度收入增长了 31%，而 2020 年全年增长较为缓慢的 10%。第四季度，为高级版本服务付费的用户增长了 32.5%，而全年增长了 22.2%。</blockquote></p><p> Bumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).</p><p><blockquote>Bumble是一款约会应用，它有一个转折，那就是只有女性才能在双方都表示有兴趣后，通过在个人资料上向右滑动来发起联系。该公司的 Bumble 和 Badoo 应用程序上的高级功能允许用户看到谁在他们身上滑动，发布更多个人信息，并突出个人资料。根据发表在《美国国家科学院院刊》（PNAS）上的一项研究，在线约会应用程序现在是美国新婚夫妇见面的最常见方式。</blockquote></p><p> Director Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd&nbsp;bought $21 million worth at $43.</p><p><blockquote>2月中旬，Bumble上市时，董事帕梅拉·托马斯-格雷厄姆（Pamela Thomas-Graham）以76.23美元的价格购买了价值49.8万美元的股票，首席执行官惠特尼·沃尔夫·赫德（Whitney Wolfe Herd）以43美元的价格购买了价值2100万美元的股票。</blockquote></p><p> <b>Wanderlust returns</b></p><p><blockquote><b>旅行癖回归</b></blockquote></p><p> I’ve been suggesting Avis Budget Group&nbsp;in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.&nbsp; It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.</p><p><blockquote>自从去年 10 月初 Avis Budget Group 的交易价格为 31 美元以来，我就一直在我的股票信中推荐它。现在价格上涨了 122%，达到 69 美元，但我最近建议用户继续持有。是的，疫情压垮了租金。但是人们真的很想出去旅行。所以这家公司的生意今年真的会好转。Avis经营着Budget和Zipcar租赁品牌，是一家航空旅行公司。它在北美、欧洲和澳大拉西亚的机场拥有巨大的影响力。Avis拥有超过10,600个租赁地点。</blockquote></p><p> Avis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.</p><p><blockquote>安飞士在疫情期间削减了19%的机队，在降低成本方面做了值得称赞的工作。因此，尽管收入下降了 41%，但这并不是破产风险。</blockquote></p><p> The big buyer who first got me interested in this stock was director Karthik&nbsp;Sarma. His SRS&nbsp;Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.</p><p><blockquote>第一个让我对这只股票感兴趣的大买家是导演卡尔西克·萨尔马。他的 SRS Investment Management 去年 5 月至 12 月以 18.57 美元至 39.20 美元的价格稳步买入。Avis 目前占他投资组合的 11.4%。最近，首席财务官 Brian Choi 接任大买家，于 2 月份以每股 46-56 美元的价格购买了价值 164 万美元的股票。业内人士不会在短期交易中买入，因此这次买入--再加上即将重新开放的旅游热潮--告诉我，该股仍需持有。</blockquote></p><p> <b>Fast-food binge</b></p><p><blockquote><b>快餐狂欢</b></blockquote></p><p> As the second-largest fast-food burger chain in the U.S., Wendy’s&nbsp;will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.</p><p><blockquote>作为美国第二大快餐汉堡连锁店，Wendy's 的销售额将随着消费者走出隐秘状态而大幅提升。当然，温迪的数字业务在大流行病期间表现强劲。但首席执行官托德-佩内戈尔（Todd Penegor）表示，客流量的改善仍将推动这家以具有竞争力的价格专营 “新鲜且令人垂涎 ”食品的连锁店的销售额。</blockquote></p><p> From small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.</p><p><blockquote>Wendy's 于 1969 年在俄亥俄州哥伦布市成立，现已发展成为全球第三大汉堡连锁店，拥有 6800 多家餐厅。其中大部分是特许经营，这提高了利润率。尽管大流行病肆虐，温迪餐厅去年还是开设了 35 家餐厅，没有关门。这一数字低于 2019 年的 77 个净开业数。但它将在 2021 年弥补失地，净增约 170 家新餐厅，使餐厅总数超过 7000 家。</blockquote></p><p> Last year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.</p><p><blockquote>去年，Wendy 的新早餐菜单大受欢迎，预计这将在 2021 年再次成为增长动力。该公司预计早餐业务今年将增长 30%，到 2022 年底将达到总销售额的 10%，高于去年的 7%。</blockquote></p><p> Wendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.</p><p><blockquote>Wendy's 预计今年同店销售额将增长 10%，推动每股收益增长 19%，达到 0.67 美元至 0.69 美元，运营现金流增长 12.5%，达到指导中点 3.2 亿美元。</blockquote></p><p></p><p> All of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.</p><p><blockquote>所有这些无疑有助于解释为什么首席法律官E.J。Wunsch 最近以 18.98 美元的价格购买了价值 142,300 美元的股票。</blockquote></p><p> <b>The h</b><b>ousing boom isn’t over yet</b></p><p><blockquote><b>h</b><b>唤醒热潮尚未结束</b></blockquote></p><p> With interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair&nbsp;and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)</p><p><blockquote>根据最近另一个流行的迷因，随着利率上升，房地产行业应该会降温。但业内人士不同意。最近，两家最大的家居相关零售商 Wayfair 和 Lowe's 发生了大量内幕交易。当然，有一些公司趋势有助于解释这一点。但由于股票三分之一的变动通常来自行业表现，因此这也是对房地产趋势的一种说明。（其他三分之二的股票走势来自公司趋势和整体股票市场趋势。）</blockquote></p><p> Here’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.</p><p><blockquote>以下是 30 年期抵押贷款利率。如您所见，与历史平均水平相比，这一数字仍然很低。</blockquote></p><p> The bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.</p><p><blockquote>Leuthold group 市场策略师吉姆·保尔森 (Jim Paulsen) 指出，这种看涨情绪是有道理的，因为抵押贷款利率仍处于历史低位。这意味着人们对购房和相关零售商的持续兴趣。</blockquote></p><p> Insiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin&nbsp;at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.</p><p><blockquote>业内人士当然认同这种想法。最近，首席执行官迈克尔·安德鲁·库明 (Michael Andrew Kumin) 以每股约 287 美元的价格购买了家居零售商 Wayfair 价值 1360 万美元的股票。Wayfair在与消费者的联系方面做得很好。去年美国销售额增长了 55%，海外销售额增长了 65%。第四季度客户数量增长 54%，达到 3120 万。重复采购占其业务的70%以上。Wayfair还与供应商密切合作，帮助他们进行物流、销售和营销，让他们满意。</blockquote></p><p> At Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.</p><p><blockquote>在 Lowe's，董事 David Batchelder 最近以 159.47 美元的价格购买了价值约 100 万美元的股票。劳氏是仅次于家得宝（Home Depot）的全球第二大家装零售商，自首席执行官马文-埃里森（Marvin Ellison）于2018年接任并引入新团队以来，劳氏一直在提高利润率、商品销售和库存。但收益还没有结束。该公司表示，2021 年营业利润率将超过 11%，最终达到 13%，而 2019 年为 9%。</blockquote></p><p> <b>The big get bigger</b></p><p><blockquote><b>大的变大</b></blockquote></p><p> As the nation’s largest retailer, Walmart&nbsp;stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&amp;T&nbsp;CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.</p><p><blockquote>作为美国最大的零售商，沃尔玛将从重新开业中受益，随着消费者信心增强，所有被压抑的需求都将被释放出来，消费者将从创纪录的高储蓄中获益。这有助于解释为什么沃尔玛董事、美国电话电报公司前首席执行官兰德尔-斯蒂芬森（Randall Stephenson）最近以 129.63 美元的价格向这家零售商的股票投入了 100 万美元。</blockquote></p><p> Walmart is also investing heavily in automation, which should improve productivity and profit margins.</p><p><blockquote>沃尔玛还在自动化方面投入巨资，这应该会提高生产率和利润率。</blockquote></p><p> Morningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.</p><p><blockquote>晨星分析师 Zain Akbari 预测今年以及未来十年的销售额增长将达到低个位数。</blockquote></p><p> Walmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.</p><p><blockquote>阿克巴里说，沃尔玛规模如此之大，以至于它与供应商谈判有利条件，以保持竞争力，从而支持零售商的广泛护城河。如果全国每小时 15 美元的最低工资标准获得通过，对沃尔玛来说也不会是毁灭性的。平均而言，它支付给销售助理的工资已经超过了这个数字。沃尔玛为投资者提供 1.6% 的股息收益率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/six-reopening-stocks-including-bumble-and-wayfair-that-company-insiders-absolutely-love-11616082045?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WEN":"温蒂汉堡","BMBL":"Bumble Inc.","CAR":"安飞士","WMT":"沃尔玛","W":"Wayfair","T":"At&T","LOW":"劳氏","HD":"家得宝"},"source_url":"https://www.marketwatch.com/story/six-reopening-stocks-including-bumble-and-wayfair-that-company-insiders-absolutely-love-11616082045?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1133615560","content_text":"Executives are snapping up shares of their own companies, which is typically a bullish sign.\nWith vaccine rollouts progressing and personal savings rising to record highs, “reopening” plays in the stock market are all the rage. Even Jim Cramer has jumped aboard.\nAs a contrarian, I’ve been suggesting reopening plays in this column and my stock letter (the link is in the bio below) for upwards of a year. They’ve doubled, or more, in many cases. Now it makes me nervous to see the crowd come in. Often that’s a sign a theme is on its last legs.\nWait, how could the reopening theme be spent even before reopening happens? That’s easy. Often markets price events in six months in advance.\nBut I think this one has more to go for a simple reason. I watch corporate insiders closely, and in the past few weeks they have been huge buyers of quintessential reopening plays in dating, travel and retail.\nHere’s a roundup of the purchases that tell me the theme still has legs. The insider buying also suggests these six stocks could extend their outperformance.\nDating is making a comeback\nMillions of people cut back on dating because of fears about contracting Covid-19. That’ll change big time during the reopening, providing a boost to the dating app company Bumble.\nWe’re already seeing early signs that singles really want to mingle — and not only in the huge spring break gatherings in Florida. Fourth-quarter revenue at Bumble increased 31% compared to a more sluggish 10% growth for all of 2020, weighed down by peak Covid-19 fears during the second and third quarters. Users paying for premium versions of the service increased 32.5% in the fourth quarter, compared to 22.2% growth for the full year.\nBumble is a dating app with a twist in that only women can initiate contact after parties both indicate an interest by swiping right on profiles. Premium features on the company’s Bumble and Badoo apps allow users to see who swiped right on them, post more personal information and spotlight profiles. Online dating apps are now the most common way for new couples to meet in the U.S., according to a study published in Proceedings of the National Academy of Sciences of the United States of America (PNAS).\nDirector Pamela Thomas-Graham bought $498,000 worth of stock at $76.23 in mid-February as Bumble came public, and CEO Whitney Wolfe Herd bought $21 million worth at $43.\nWanderlust returns\nI’ve been suggesting Avis Budget Group in my stock letter since it traded at $31 in early October last year. It’s now up 122% to $69, but I recently suggested subscribers should continue holding. Yes, the pandemic crushed rentals. But people really want to get out and travel. So business at this company will really pick up this year. Avis, which runs the Budget and Zipcar rental brands, is an air travel play.  It has a huge presence around airports in North America, Europe and Australasia. Avis has more than 10,600 rental locations.\nAvis did a commendable job of reducing costs during the pandemic by cutting its fleet by 19%. So even though revenue fell 41%, it was not a bankruptcy risk.\nThe big buyer who first got me interested in this stock was director Karthik Sarma. His SRS Investment Management bought steadily in size last May-December at $18.57 to $39.20. Avis now represents 11.4% of his portfolio. More recently, CFO Brian Choi took over as the big buyer, purchasing $1.64 million worth of stock at $46-$56 a share in February. Insiders don’t buy for short-term trades so this purchase — along with the reopening travel craze ahead — tells me the stock remains a hold.\nFast-food binge\nAs the second-largest fast-food burger chain in the U.S., Wendy’s will see a big boost in sales as consumers come out of hiding. Sure, Wendy’s digital business was robust during the pandemic. But improved foot traffic will still drive sales at the chain that specializes in “fresh and crave-able” food at a competitive price, according to CEO Todd Penegor.\nFrom small beginnings in Columbus, Ohio, in 1969, Wendy’s has grown into the third-largest burger chain in the world, with over 6,800 restaurants. Most of them are franchises, which boosts profit margins. Despite the pandemic, Wendy’s opened 35 restaurants last year, net of closings. That was down from 77 net openings in 2019. But it’ll make up for lost ground in 2021 with around 170 new restaurants, net, to take the total over 7,000.\nLast year, Wendy’s new breakfast menu was a hit, and it expects this to be a growth driver again in 2021. It projects the breakfast business will grow 30% this year, and that it will hit 10% of overall sales by the end of 2022, up from 7% last year.\nWendy’s expects same-restaurant sales to grow 10% this year, driving 19% earnings growth to $0.67 to $0.69 per share, and 12.5% operating cash flow growth to $320 million at the midpoint of guidance.\nAll of this no doubt helps explain why chief legal officer E.J. Wunsch recently bought $142,300 worth of stock at $18.98.\nThe housing boom isn’t over yet\nWith interest rates going up, the home sector is supposedly going to cool off, according to another popular meme these days. But insiders disagree. Recently there was large insider buying at two of the biggest home-related retailers, Wayfair and Lowe’s.Sure, there are company trends that help explain this. But since a third of a stock’s move typically comes from sector performance, this is a statement on housing trends, too. (The other two-thirds of any stock move come from company trends and overall stock market trends.)\nHere’s the 30-year mortgage rate. As you can see, it’s still very low compared with historical averages.\nThe bullishness makes sense because mortgage rates remain historically low, points out Jim Paulsen, market strategist at the Leuthold group. That means ongoing interest in home buying and related retailers.\nInsiders certainly buy into this thinking. There was recently a mega-purchase of $13.6 million worth of stock at the home retailer Wayfair, by director Michael Andrew Kumin at around $287 per share. Wayfair has done a great job of connecting with consumers. Sales grew 55% last year in the U.S. and 65% abroad. Customer count grew 54% to 31.2 million in the fourth quarter. Repeat purchases represent more than 70% of its business. Wayfair also works closely with suppliers, helping with logistics, merchandising and marketing, to keep them happy.\nAt Lowe’s, director David Batchelder recently bought about $1 million worth of stock at $159.47. The second-largest home-improvement retailer globally after Home Depot,Lowe’s has been improving profit margins, merchandising and inventory since CEO Marvin Ellison took over in 2018, bringing in a new team. But the gains are not over. The company says operating margin will surpass 11% in 2021 and eventually hit 13%, compared to 9% in 2019.\nThe big get bigger\nAs the nation’s largest retailer, Walmart stands to benefit from reopening, and all the pent-up demand that will be unleashed as consumers feel more confident and chip away at their record-high savings. This helps explain why Walmart director and former AT&T CEO Randall Stephenson recently put $1 million into this retailer’s stock at $129.63.\nWalmart is also investing heavily in automation, which should improve productivity and profit margins.\nMorningstar analyst Zain Akbari forecasts low-single-digit sales growth this year, and over the next decade.\nWalmart is so big that it negotiates favorable terms with vendors to stay competitive, supporting the retailer’s wide moat, says Akbari. If a national $15-an-hour minimum wage ever gets passed, it won’t be devastating to Walmart. It already pays sales associates more than that, on average. And Walmart offers investors a 1.6% dividend yield.","news_type":1,"symbols_score_info":{"WMT":0.9,"LOW":0.9,"W":0.9,"WEN":0.9,"CAR":0.9,"HD":0.9,"T":0.9,"BMBL":0.9}},"isVote":1,"tweetType":1,"viewCount":1716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324991473,"gmtCreate":1615948985892,"gmtModify":1703495411775,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Moon","listText":"Moon","text":"Moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324991473","repostId":"1103121082","repostType":4,"repost":{"id":"1103121082","kind":"news","pubTimestamp":1615948559,"share":"https://www.laohunote.com/m/news/1103121082?lang=zh_CN&edition=full","pubTime":"2021-03-17 10:35","market":"us","language":"en","title":"Easy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103121082","media":"Barrons","summary":"The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter ec","content":"<p>The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.</p><p><blockquote>美联储本周采取了一个尴尬的平衡行动：它很可能会立即发布更乐观的经济预测，同时试图向投资者保证，美联储仍然 “没有考虑 ”加息，而且也不需要加息。</blockquote></p><p> More-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.</p><p><blockquote>对国内生产总值、失业率和通货膨胀的更乐观的估计通常会促使人们承认货币政策将反过来开始收紧。对于依赖数据的美联储来说，经济改善速度远超预期的信息与利率将在 2023 年之前保持接近于零的信息不一致。随着投资者对新的经济预测、显示最新利率预测的点阵图以及主席杰罗姆-鲍威尔（Jerome Powell）的新闻发布会的关注，美联储的政策机构联邦公开市场委员会将如何试图平衡这些相互矛盾的动态。</blockquote></p><p> “It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”</p><p><blockquote>“牛津经济研究院（Oxford Economics）首席美国金融经济学家凯西-博斯特扬西奇（Kathy Bostjancic）说：”这对他们来说是一条微妙的路线，因为在经济数据改善、Covid-19 疫苗接种和通胀担忧加剧的情况下，债券市场价格进一步收紧，而美联储则重申了其鸽派立场。“你如何在传达你不会落后于时代的同时传达耐心？”</blockquote></p><p> The rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.</p><p><blockquote>费率决定和更新材料将于本周三下午2点发布东部时间，鲍威尔将进行问答环节。以下是华尔街正在关注的内容。</blockquote></p><p> <b>Updated economic forecasts:</b>In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.</p><p><blockquote><b>更新的经济预测：</b>在 12 月份的经济预测摘要中，FOMC 预计 2021 年 GDP 增长率为 4.2%，2022 年为 3.2%，到 2023 年底通胀预期将达到 2%，从而意味着利率将在 2024 年开始上升。</blockquote></p><p> Aneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)</p><p><blockquote>Jefferies首席经济学家Aneta Markowska认为，FOMC将把未来两年的GDP预测分别上调至6%和4%左右。她表示，到 2022 年下半年，这应该会将失业率推至自然率以下（在通胀保持稳定的情况下，一个经济体可以维持的最低失业率），这意味着 2% 的通胀预测将被提前至 2022 年底——因此，第一次加息被提前至 2023 年。（12月，美联储预计今年年底通胀率为1.8%。）</blockquote></p><p> Fed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.</p><p><blockquote>美联储官员对让通胀率高于 2% 的目标表示欣慰。问题是多少。摩根大通基金（J.P. Morgan Funds）首席全球策略师大卫-凯利（David Kelly）表示，尽管联邦公开市场委员会（FOMC）可能会重申今年之后经济复苏将放缓，但新的预测可能会显示，2022 年和 2023 年的通胀率都将超过 2%，到 2023 年底失业率将达到 3.5%，从而满足美联储关于通胀率高于 2% 和 “最大就业 ”的标准。</blockquote></p><p> Some economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).</p><p><blockquote>然而，一些经济学家表示，美联储可能会更多地关注更广泛的失业率，即所谓的U-6失业率，其中包括沮丧的工人以及那些从事兼职工作但更愿意全职工作的工人等。鉴于 U-6 的比率（11.1%）远高于 “官方 ”U-3 的比率（6.2%），这将给政策制定者更多的喘息空间。</blockquote></p><p> Given the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.</p><p><blockquote>牛津经济研究院（Oxford Economics）的博斯特扬西奇（Bostjancic）表示，鉴于美联储的新政策框架将最大就业定义为 “基础广泛、包容性 ”就业，希望阻碍美联储下一次利率走势的投资者应关注 U-6 失业率。</blockquote></p><p> <b>The dot plot:</b>In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.</p><p><blockquote><b>点阵图：</b>12 月，提交预测的 17 名 FOMC 成员中只有 1 名成员预计到 2022 年底加息，5 名成员预计到 2023 年底加息。尽管一些经济学家表示，美联储官员可能对提高他们的点数或显得更加鹰派持谨慎态度，从而加剧正在进行的长期利率飙升，但其他人表示，美联储必须在其利率前景中表现出一些变化。</blockquote></p><p> “Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.</p><p><blockquote>“马尔科夫斯卡说：”鉴于预测可能修正的幅度，很难证明政策前景不改变是合理的。“不这样做将不符合数据依赖性，并将强烈表明美联储依赖于日历（美联储坚称它不是）。”她说，与此同时，美联储并没有反击最近对利率预期的重新定价，这是对已经定价的隐性认可。</blockquote></p><p> Bostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.</p><p><blockquote>Bostjancic 预计预测中值将显示 2023 年至少加息一次 0.25%，而 Markowska 则认为 2023 年 dot 中值可能会升至 0.375%（她指出，只有 4 名成员需要提高 dot，或在 2023 年底前发出更高预期联邦基金利率的信号），即可移动利率预测中值。债券市场已预计到 2023 年底将加息三个四分之一点。</blockquote></p><p></p><p> <b>Bond market action:</b>How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.</p><p><blockquote><b>债券市场行动：</b>国债市场对美联储新信息的反应至少与信息本身一样有趣。Bostjancic表示，即使美联储稍微提前加息预期，也可能刺激债券市场消化更多紧缩政策，而不是美联储在利率预期方面可能赶上市场已经处于的水平。</blockquote></p><p> Ian Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.</p><p><blockquote>BMO Capital 利率策略主管伊恩·林根 (Ian Lyngen) 表示，鲍威尔不太可能有意义地改变他对最近收益率行动的立场，他坚持认为，只要此举是由经济前景和通胀预期改善推动的，重新定价就是出于正确的原因。“他说：”不用说，更高的收益率是好事，直到它们不好，而这正是美联储面临的更大政策风险的拐点。</blockquote></p><p> Lyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.</p><p><blockquote>林根正在关注 10 年期国债 1.64% 的水平（这是上周的收益率峰值，也是该基准自 2020 年 2 月初以来的最高收益率），并将该票据的目标定为 1.75%。</blockquote></p><p> <b>SLR exemption extension:</b>Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.</p><p><blockquote><b>SLR豁免延期：</b>随着大流行病导致的停摆接踵而至，围绕美联储去年 4 月推出的一项广受欢迎的计划的任何信号都可能导致周三债券市场的走势。</blockquote></p><p> Wall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.</p><p><blockquote>华尔街希望延长美联储银行对国债和银行存款的临时豁免期限，该期限要求金融机构持有至少 3% 的最低资本比率，以其总杠杆敞口衡量。该豁免将于三月底到期。</blockquote></p><p> The exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.</p><p><blockquote>豁免的命运影响重大。Bostjancic 指出，过去一年，银行增加了 8,540 亿美元的国债购买量，而银行准备金则激增了 1.8 万亿美元。经济学家表示，缺乏延期可能会大大降低银行对美国国债的兴趣，从而给收益率带来更大的上行压力。</blockquote></p><p> <b>Further easing watch:</b>Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”</p><p><blockquote><b>进一步放松观察：</b>除非收益率出现更无序的飙升，金融状况有意义地收紧，否则华尔街普遍预计不会出现更多宽松政策。林根说，就目前而言，联邦公开市场委员会 “处于相当有利的位置，可以暂时坚持到底”，“即使这样的结果涉及在投资者谨慎甚至担忧的情况下，默许进一步抛售美国国债的风险”。</blockquote></p><p> As for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.</p><p><blockquote>至于对收益率无序飙升的潜在反应，经济学家表示，美联储有几个选择。Bostjancic 表示，最直接的是，美联储可能会选择延长当前资产购买的期限。她表示，截至 12 月，当前计划的平均期限为 7.4 年，并补充说政策制定者可以开始购买 10 至 30 年期国债。Bostjancic 说，这样做实际上将是新的 “扭曲行动 ”的一部分，另一部分涉及出售短期国库券。</blockquote></p><p> If financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.</p><p><blockquote>Bostjancic和其他人表示，如果金融状况进一步收紧，并且在收益率曲线上进一步买入被证明是不够的，美联储可能会尝试控制收益率曲线。</blockquote></p><p> YCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.</p><p><blockquote>YCC由美联储在二战后、日本央行在2016年和澳大利亚储备银行在2020年实施，旨在控制收益率曲线的某些部分的利率，通过对特定期限施加利率上限来直接瞄准长期利率。正如圣路易斯联储的经济学家所说，由于债券价格和收益率成反比关系，这也意味着目标期限的价格下限：如果目标期限的债券价格（收益率）保持在下限之上（低于），央行什么也不做。但如果价格跌至（上涨）下限以下（高于），央行就会购买目标期限债券——增加需求，从而提高这些债券的价格。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Easy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEasy Money, the Dot Plot, and the Fed’s Dilemma: An Investor Guide to a Key Meeting<blockquote>轻松赚钱、点阵图和美联储的困境： 重要会议的投资者指南</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-17 10:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.</p><p><blockquote>美联储本周采取了一个尴尬的平衡行动：它很可能会立即发布更乐观的经济预测，同时试图向投资者保证，美联储仍然 “没有考虑 ”加息，而且也不需要加息。</blockquote></p><p> More-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.</p><p><blockquote>对国内生产总值、失业率和通货膨胀的更乐观的估计通常会促使人们承认货币政策将反过来开始收紧。对于依赖数据的美联储来说，经济改善速度远超预期的信息与利率将在 2023 年之前保持接近于零的信息不一致。随着投资者对新的经济预测、显示最新利率预测的点阵图以及主席杰罗姆-鲍威尔（Jerome Powell）的新闻发布会的关注，美联储的政策机构联邦公开市场委员会将如何试图平衡这些相互矛盾的动态。</blockquote></p><p> “It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”</p><p><blockquote>“牛津经济研究院（Oxford Economics）首席美国金融经济学家凯西-博斯特扬西奇（Kathy Bostjancic）说：”这对他们来说是一条微妙的路线，因为在经济数据改善、Covid-19 疫苗接种和通胀担忧加剧的情况下，债券市场价格进一步收紧，而美联储则重申了其鸽派立场。“你如何在传达你不会落后于时代的同时传达耐心？”</blockquote></p><p> The rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.</p><p><blockquote>费率决定和更新材料将于本周三下午2点发布东部时间，鲍威尔将进行问答环节。以下是华尔街正在关注的内容。</blockquote></p><p> <b>Updated economic forecasts:</b>In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.</p><p><blockquote><b>更新的经济预测：</b>在 12 月份的经济预测摘要中，FOMC 预计 2021 年 GDP 增长率为 4.2%，2022 年为 3.2%，到 2023 年底通胀预期将达到 2%，从而意味着利率将在 2024 年开始上升。</blockquote></p><p> Aneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)</p><p><blockquote>Jefferies首席经济学家Aneta Markowska认为，FOMC将把未来两年的GDP预测分别上调至6%和4%左右。她表示，到 2022 年下半年，这应该会将失业率推至自然率以下（在通胀保持稳定的情况下，一个经济体可以维持的最低失业率），这意味着 2% 的通胀预测将被提前至 2022 年底——因此，第一次加息被提前至 2023 年。（12月，美联储预计今年年底通胀率为1.8%。）</blockquote></p><p> Fed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.</p><p><blockquote>美联储官员对让通胀率高于 2% 的目标表示欣慰。问题是多少。摩根大通基金（J.P. Morgan Funds）首席全球策略师大卫-凯利（David Kelly）表示，尽管联邦公开市场委员会（FOMC）可能会重申今年之后经济复苏将放缓，但新的预测可能会显示，2022 年和 2023 年的通胀率都将超过 2%，到 2023 年底失业率将达到 3.5%，从而满足美联储关于通胀率高于 2% 和 “最大就业 ”的标准。</blockquote></p><p> Some economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).</p><p><blockquote>然而，一些经济学家表示，美联储可能会更多地关注更广泛的失业率，即所谓的U-6失业率，其中包括沮丧的工人以及那些从事兼职工作但更愿意全职工作的工人等。鉴于 U-6 的比率（11.1%）远高于 “官方 ”U-3 的比率（6.2%），这将给政策制定者更多的喘息空间。</blockquote></p><p> Given the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.</p><p><blockquote>牛津经济研究院（Oxford Economics）的博斯特扬西奇（Bostjancic）表示，鉴于美联储的新政策框架将最大就业定义为 “基础广泛、包容性 ”就业，希望阻碍美联储下一次利率走势的投资者应关注 U-6 失业率。</blockquote></p><p> <b>The dot plot:</b>In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.</p><p><blockquote><b>点阵图：</b>12 月，提交预测的 17 名 FOMC 成员中只有 1 名成员预计到 2022 年底加息，5 名成员预计到 2023 年底加息。尽管一些经济学家表示，美联储官员可能对提高他们的点数或显得更加鹰派持谨慎态度，从而加剧正在进行的长期利率飙升，但其他人表示，美联储必须在其利率前景中表现出一些变化。</blockquote></p><p> “Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.</p><p><blockquote>“马尔科夫斯卡说：”鉴于预测可能修正的幅度，很难证明政策前景不改变是合理的。“不这样做将不符合数据依赖性，并将强烈表明美联储依赖于日历（美联储坚称它不是）。”她说，与此同时，美联储并没有反击最近对利率预期的重新定价，这是对已经定价的隐性认可。</blockquote></p><p> Bostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.</p><p><blockquote>Bostjancic 预计预测中值将显示 2023 年至少加息一次 0.25%，而 Markowska 则认为 2023 年 dot 中值可能会升至 0.375%（她指出，只有 4 名成员需要提高 dot，或在 2023 年底前发出更高预期联邦基金利率的信号），即可移动利率预测中值。债券市场已预计到 2023 年底将加息三个四分之一点。</blockquote></p><p></p><p> <b>Bond market action:</b>How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.</p><p><blockquote><b>债券市场行动：</b>国债市场对美联储新信息的反应至少与信息本身一样有趣。Bostjancic表示，即使美联储稍微提前加息预期，也可能刺激债券市场消化更多紧缩政策，而不是美联储在利率预期方面可能赶上市场已经处于的水平。</blockquote></p><p> Ian Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.</p><p><blockquote>BMO Capital 利率策略主管伊恩·林根 (Ian Lyngen) 表示，鲍威尔不太可能有意义地改变他对最近收益率行动的立场，他坚持认为，只要此举是由经济前景和通胀预期改善推动的，重新定价就是出于正确的原因。“他说：”不用说，更高的收益率是好事，直到它们不好，而这正是美联储面临的更大政策风险的拐点。</blockquote></p><p> Lyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.</p><p><blockquote>林根正在关注 10 年期国债 1.64% 的水平（这是上周的收益率峰值，也是该基准自 2020 年 2 月初以来的最高收益率），并将该票据的目标定为 1.75%。</blockquote></p><p> <b>SLR exemption extension:</b>Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.</p><p><blockquote><b>SLR豁免延期：</b>随着大流行病导致的停摆接踵而至，围绕美联储去年 4 月推出的一项广受欢迎的计划的任何信号都可能导致周三债券市场的走势。</blockquote></p><p> Wall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.</p><p><blockquote>华尔街希望延长美联储银行对国债和银行存款的临时豁免期限，该期限要求金融机构持有至少 3% 的最低资本比率，以其总杠杆敞口衡量。该豁免将于三月底到期。</blockquote></p><p> The exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.</p><p><blockquote>豁免的命运影响重大。Bostjancic 指出，过去一年，银行增加了 8,540 亿美元的国债购买量，而银行准备金则激增了 1.8 万亿美元。经济学家表示，缺乏延期可能会大大降低银行对美国国债的兴趣，从而给收益率带来更大的上行压力。</blockquote></p><p> <b>Further easing watch:</b>Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”</p><p><blockquote><b>进一步放松观察：</b>除非收益率出现更无序的飙升，金融状况有意义地收紧，否则华尔街普遍预计不会出现更多宽松政策。林根说，就目前而言，联邦公开市场委员会 “处于相当有利的位置，可以暂时坚持到底”，“即使这样的结果涉及在投资者谨慎甚至担忧的情况下，默许进一步抛售美国国债的风险”。</blockquote></p><p> As for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.</p><p><blockquote>至于对收益率无序飙升的潜在反应，经济学家表示，美联储有几个选择。Bostjancic 表示，最直接的是，美联储可能会选择延长当前资产购买的期限。她表示，截至 12 月，当前计划的平均期限为 7.4 年，并补充说政策制定者可以开始购买 10 至 30 年期国债。Bostjancic 说，这样做实际上将是新的 “扭曲行动 ”的一部分，另一部分涉及出售短期国库券。</blockquote></p><p> If financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.</p><p><blockquote>Bostjancic和其他人表示，如果金融状况进一步收紧，并且在收益率曲线上进一步买入被证明是不够的，美联储可能会尝试控制收益率曲线。</blockquote></p><p> YCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.</p><p><blockquote>YCC由美联储在二战后、日本央行在2016年和澳大利亚储备银行在2020年实施，旨在控制收益率曲线的某些部分的利率，通过对特定期限施加利率上限来直接瞄准长期利率。正如圣路易斯联储的经济学家所说，由于债券价格和收益率成反比关系，这也意味着目标期限的价格下限：如果目标期限的债券价格（收益率）保持在下限之上（低于），央行什么也不做。但如果价格跌至（上涨）下限以下（高于），央行就会购买目标期限债券——增加需求，从而提高这些债券的价格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/easy-money-the-dot-plot-and-the-feds-dilemma-an-investor-guide-to-a-key-meeting-51615905001?mod=hp_LEAD_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/easy-money-the-dot-plot-and-the-feds-dilemma-an-investor-guide-to-a-key-meeting-51615905001?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103121082","content_text":"The Federal Reserve has an awkward balancing act this week: It’s likely to at once issue brighter economic forecasts while trying to assure investors that it is still “not thinking about thinking about” lifting interest rates—and that it doesn’t need to.\nMore-optimistic estimates for gross domestic product, unemployment and inflation would typically prompt an acknowledgement that monetary policy would, in turn, begin to tighten. For a data-dependent Fed, the message that the economy is improving much faster than expected is at odds with the message that rates will remain near zero through 2023. How the Federal Open Market Committee, the Fed’s policy arm, tries to square those conflicting dynamics will be in focus as investors take in new economic forecasts, the dot plot showing updated rate predictions, and Chairman Jerome Powell’s press conference.\n“It’s a fine line for them to walk,” says Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, as the bond market prices in more tightening amid improving economic data, Covid-19 vaccinations, and building inflation concerns, while the Fed reiterates its dovish stance. “How do you telegraph patience while conveying you won’t be behind the curve?”\nThe rate decision and updated materials will be released this Wednesday at 2 p.m. Eastern time, with Powell’s question-and-answer session following. Here is a run down of what Wall Street is watching.\nUpdated economic forecasts:In the December Summary of Economic Projections, the FOMC projected 4.2% GDP growth for 2021 and 3.2% for 2022, bringing its inflation expectation to 2% by the end of 2023 and thus implying rates would begin to rise in 2024.\nAneta Markowska, chief economist at Jefferies, thinks the FOMC will raise GDP forecasts for the next two years to about 6% and 4%, respectively. This should push the unemployment rate below the natural rate (the lowest unemployment rate an economy can sustain with inflation remaining stable) by the second half of 2022, she says, meaning the 2% inflation forecast would be pulled forward to the end of 2022—and the first rate hike therefore pulled forward to 2023. (In December, the Fed projected inflation at a 1.8% rate at the end of this year.)\nFed officials have expressed comfort in letting inflation run hotter than the 2% target. The question is by how much. Even though the FOMC will likely repeat that the recovery will slow after this year, new forecasts may show inflation of over 2% in both 2022 and 2023 alongside an unemployment rate of 3.5% by the end of 2023, thereby meeting the Fed’s criteria of inflation above 2% and “maximum employment,” says David Kelly, chief global strategist at J.P. Morgan Funds.\nSome economists, however, say the Fed may focus more on a broader unemployment rate, known as the U-6 rate, that includes discouraged workers plus those who are working part time but would prefer to work full time, among others. That would give policy makers more breathing room given how much higher U-6 stands (11.1%) compared with the “official” U-3 rate (6.2%).\nGiven the Fed’s new policy framework defines maximum employment as consisting of ‘broad-based and inclusive’ employment, investors looking to handicap the Fed’s next rate move should monitor the U-6 unemployment rate, says Bostjancic of Oxford Economics.\nThe dot plot:In December, only one of 17 FOMC members submitting forecasts saw a rate hike by the end of 2022 and five saw a rate hike by the end of 2023. While some economists say Fed officials may be wary of lifting their dots, or appearing more hawkish and thereby adding fuel to a surge in long-term interest rates that has been under way, others say the Fed has to show some change in its rate outlook.\n“Given the magnitude of the likely forecast revisions, it would be hard to justify no change in the policy outlook,” says Markowska. “Not doing so would be inconsistent with data-dependency and would strongly suggest that the Fed is calendar dependent (which the Fed insists it isn’t).” At the same time, she says, the Fed hasn’t pushed back against the recent repricing of rate expectations, which is an implicit endorsement of what’s already priced in.\nBostjancic expects the median forecast to show at least one 0.25% rate hike during 2023, while Markowska thinks the median 2023 dot could rise to 0.375% (she notes only 4 members need to lift their dots—or signal a higher expected Fed funds rate by the end of 2023—to move the median rate projection. The bond market has priced in three quarter-point increases by the end of 2023.\nBond market action:How the Treasury market reacts to the new Fed information will be at least as interesting as the information itself. Instead of the Fed potentially catching up to where the market already is in terms of rate expectations, Bostjancic says even a whiff of the Fed pulling forward rate hike expectations could spur the bond market to price in more tightening.\nIan Lyngen, head of rates strategy at BMO Capital, says chances are low Powell will meaningfully alter his stance on the recent yield action, maintaining that as long as the move is driven by an improving economic outlook and inflation expectations, the repricing is for the right reasons. “Needless to say, higher yields are good until they are not and it’s just such an inflection point that represents the more significant policy risk for the Fed,” he says.\nLyngen is watching the 1.64% level on the 10-year (it was last week’s yield peak as well as the highest for the benchmark since early-February 2020) and has a 1.75% target on the note.\nSLR exemption extension:Potentially contributing to bond market action on Wednesday will be any signal around the Fed’s plan for a popular program launched last April, as pandemic-driven shutdowns cascaded.\nWall Street is hoping for an extension of a temporary exemption of Treasuries and bank deposits at the Fed Reserve Banks from the banks’ Supplementary Leverage Ratio, which requires financial institutions hold a minimum ratio of at least 3% in capital measured against their total leverage exposure. The exemption is set to expire at the end of March.\nThe exemption’s fate has big implications. Over the past year, banks have increased their purchases of Treasuries by a large $854 billion, while bank reserves have ballooned by $1.8 trillion, Bostjancic notes. Economists say the lack of an extension could significantly lessen banks’ appetite for Treasuries, putting even more upward pressure on yields.\nFurther easing watch:Wall Street generally doesn’t expect more easing unless yields stage a more disorderly surge and financial conditions meaningfully tighten. For now, the FOMC “is reasonably well positioned to stay the course for the time being,” Lyngen says, “even if such an outcome involves the risk of tacitly endorsing a further Treasury selloff at stage when investors are wary, if not worried.”\nAs for potential responses to any disorderly jump in yields, economists say the Fed has a few options. Most immediately, the Fed could opt to lengthen the duration of its current asset purchases, says Bostjancic. As of December, the average maturity under the current program was 7.4 years, she says, adding that policy makers could start buying 10- to 30-year Treasuries. Doing so would effectively be one part of a new “operation twist,” with the other leg involving the sale of short-date Treasury bills, Bostjancic says.\nIf financial conditions tighten much more sharply and buying further out on the yield curve proves insufficient, Bostjancic and others say the Fed could attempt yield curve control.\nYCC, undertaken by the Fed after World War II, the Bank of Japan in 2016, and the Reserve Bank of Australia in 2020, aims to control interest rates along some portion of the yield curve, targeting longer-term rates directly by imposing interest rate caps on particular maturities.As economists at the St. Louis Fed put it, because bond prices and yields are inversely related, this also implies a price floor for targeted maturities: if bond prices (yields) of targeted maturities remain above (below) the floor, the central bank does nothing. But if prices fall (rise) below (above) the floor, the central bank buys targeted-maturity bonds—increasing the demand and thus the price of those bonds.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351191047,"gmtCreate":1616572181889,"gmtModify":1634525142749,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351191047","repostId":"2121931453","repostType":2,"isVote":1,"tweetType":1,"viewCount":3149,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328215031,"gmtCreate":1615529294123,"gmtModify":1703490491835,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"That's great&nbsp;","listText":"That's great&nbsp;","text":"That's great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328215031","repostId":"1144029837","repostType":4,"repost":{"id":"1144029837","kind":"news","pubTimestamp":1615513990,"share":"https://www.laohunote.com/m/news/1144029837?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:53","market":"sg","language":"en","title":"The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144029837","media":"Nasdaq","summary":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQIN","content":"<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MELI":"MercadoLibre","OKTA":"Okta Inc.","PYPL":"PayPal"},"source_url":"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144029837","content_text":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares ofMercadoLibre(NASDAQ: MELI),Okta(NASDAQ: OKTA), andPayPal Holdings(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.MercadoLibre's back in businessLess than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.Investors might like Okta's big buy after allShares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.Paying the piperLastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only one in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.Ride the waveVolatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.","news_type":1,"symbols_score_info":{"MELI":0.9,"OKTA":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":531,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328212219,"gmtCreate":1615529248531,"gmtModify":1703490491141,"author":{"id":"3578401675475466","authorId":"3578401675475466","name":"egp","avatar":"https://static.tigerbbs.com/ea2097a2bb202d6059687baec5a24ee8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578401675475466","idStr":"3578401675475466"},"themes":[],"title":"","htmlText":"Noted&nbsp;","listText":"Noted&nbsp;","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328212219","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://www.laohunote.com/m/news/1199156489?lang=zh_CN&edition=full","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time<blockquote>美国夏令时</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Daylight Saving Time<blockquote>美国夏令时</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Daylight Saving Time<blockquote>美国夏令时</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-11 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02:00开始， 北美地区进入夏令时， 直到美国东部时间2021年11月7日02:00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>因此，从3月14日（星期一）开始，美国市场将在北美夏令时提前一小时开盘和收盘，即美国交易时间将改为北京时间21:30至凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天就能持续到晚上。大多数北美和欧洲都遵循这一习俗，而其他大多数国家则不遵循这一习俗。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。维持现状是当务之急。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}